New Trade Entry : IWM Monthly Iron Condor for October cycle. Below is the position entered this morning:

IWM Iron Condor Position Entered Wednesday, September 11, 37 days prior to expiration.


IWM Iron Condor position shortly after entry




Time of entry: 11:00 am Eastern. IWM price: 104.68

Trade Details:

Call Spreads: -109/+114. Delta of short call .18 at time of entry

Put Spreads: -98/+93. Delta of short put -.18 at the time of entry

Credit received: $.89

Maximum margin/risk is $411. Maximum risk is the width of the spread ($500 less credit received $89.

Target Gain: $41 (10% of current margin).

Maximum Loss: $61 (15% of current margin).

Adjustment Trigger: If the delta of the short call or short put reaches entry delta +10, roll out the threatened side 10 points. As outlined in the guidelines published on September 10, it is a trader's choice after adjusting to either add additional spreads at the new strikes to make up the difference in credit, or to just have a reduced target gain.

I plan to enter an SPX weekly Iron Condor tomorrow using the guidelines as published; entry details will be posted after the trade is opened.

Trade updates will be posted as appropriate.

As always, stay keen on your risk management and trade carefully.

Dot Hazlin