SPX Weekly Iron Condor Closed; Stop Loss Hit
Our stop loss exit order triggered a short while ago for the July 1 weekly Iron Condor; position closed as follows:
- BOUGHT SPX July 1 2145 Call, .10 Debit.
- SOLD SPX July 1 2155 Call, .05 Credit.
- BOUGHT SPX July 1 2050 Put, 10.35 Debit.
- SOLD SX July 1 2040 Put, 7.80 Credit.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $2.60 (all four legs. )
Net Credit to Enter Iron Condor: $1.75 (all four legs)
(Loss): Loss of $(85).
This represented a loss of 10% of the margin/risk and the pre-set max loss per the guidelines for the trade. While it's never easy to accept a loss, the year-to-date results are still positive for this trade and we will re-enter once the Greek drama is over and the market settles.
As always, stay keen on your risk management and trade carefully,