SPX April 1 Weekly Iron Condor closed; stop loss exit order triggered.
Our stop loss exit order triggered and filled a short while ago on this week's SPX Iron Condor.
Closing details are as follows:
BOUGHT SPX April 1 2100 Call, 3.55 Debit.
SOLD SPX April 1 2110 Call, 1.15 Credit.
BOUGHT SPX April 1 2005 Put, .30 Debit.
SOLD April 1 1995, .20 Credit.
Net Debit (all four legs): $2.50
Net Credit to Open Position: $1.65
This represented a loss of $(85), or 10% of the margin and our pre-set max loss for the trade.
As I've written other times when we have had to take a loss, it is never an easy pill to swallow. However, in the big picture, I feel it is always best to trade as per the trade guidelines and look forward to the next trade.
As always, stay keen on your risk management and trade carefully,