Friday was a roller-coaster day; our new position endured the 24+ swing and ended the day well centered.
SPX September 2 Iron Condor:
SPX September 2 Iron Condor as of the close Friday:
The position is currently -$7.46. My order is in to close the position for a debit of .40, which will result in a net gain after commissions of $92, or 10.7% of actual margin. Execution can sometimes be easier by closing the position as two verticals, in lieu of waiting for a fill on a four-legged spread. Having said that, this position could also be exited if the debit to close either side reaches .20.
I will post updates on the open position early next week.
As always, stay keen on your risk management and trade carefully.