Open Position update: IWM March Iron Condor and SPX Weekly Credit Spread for February 4.
1) IWM March Iron Condor
IWM closed yesterday at 115.66. This position is currently -$40.48. As I wrote last week, this adjusted position will remain open as long as IWM remains in between the short strikes (119 Calls and 110 Puts), and the pre-set max loss of $63 is not reached.
IWM March Iron Condor
2) SPX Weekly Put Credit Spread for February 4
Below is the open weekly position as of the close yesterday:
SPX February 4 Weekly Credit Spread:
SPX closed Friday at 1836.25, 41 points from the short put strike of 1795. The position is currently +$27.54. Our target gain remains at $60.00. I have a "good to cancel" order in to close the position for .20, which would the target gain on this position before commissions.
The 6 month chart of SPX is shown below indicating the strikes for the current position:
SPX 6 Month Chart:
An update will be posted early next week.
As always, stay keen on your risk management and trade carefully,