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

IWM Iron Condor Position Entered Monday, October 7, 39 days prior to expiration.


IWM Iron Condor position shortly after entry




Time of entry: 11:15 am Eastern. IWM price: 106.29

Trade Details:

Call Spreads: -112/+117. Delta of short call .17 at time of entry

Put Spreads: -99/+94. Delta of short put -.18 at the time of entry

Credit received: $.93

Maximum margin/risk is $407. Maximum risk is the width of the spread ($500 less credit received $93.

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.

Trade updates will be posted as appropriate.

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

Dot Hazlin