Despite a spike in volatility of almost 10% Friday, our open April position is just slightly negative.
The VIX, CBOE's volatility index, increased by 1.60 points Friday, almost 10% from the previous close. All the uncertainty over the Ukraine situation, as well as the weakening of the economy in China, created a lot of fear in the broad markets yesterday.
Our April SPY Iron Condor is currently $-11.95, down 2.8% of the actual margin. The open position is shown below:
SPY April Iron Condor as of the close Friday:
SPY closed Friday at 184.66, -.52 from the previous day.
The 6 month chart is shown below, indicating the short put strike of 179. The Ukraine vote Sunday could bring some further downside movement on Monday, but the position will remain open as long as SPY stays above 179. The position will be exited at either short strike, or at the pre-set max loss of 15% ($-62).
SPY 6 month chart as of the close Friday:
I will post an update on this position next week.
As always, stay keen on your risk management and trade carefully.