SPY May Iron Condor Position closing.
For those of you trading or following the May SPY Iron Condor position, the trade has been very close to the short call strike of 190. Tomorrow morning brings FOMC Chairman Janet Yellen's speech at 10 am eastern, which could result in a sharp move in either direction.
As of this writing, the debit to close the position is .40, which would result in a gain of $40, 9.5% of the allocated margin/risk. I have an order in to exit the position for .40, but it has not yet filled.
It is recommended that the position be closed before the end of the day today, rather than risk the potential for a big move in the morning.
I will post actual fill for the debit when the position is closed.
As always, stay keen on your risk management and trade carefully,