Today's bullish price action leading up the FOMC announcement knocked us out of the November SPY position, and the stop loss limit order executed and filled a short while ago.
The closing order executed as follows:
- BOUGHT SPY November 210 Call, 1.64 Debit.
- SOLD SPY November 215 Call, $.27 Credit.
- BOUGHT SPY November 188 Put, $.23 Debit.
- SOLD SPY November 183, $.13 Credit.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $1.47 (all four legs).
Net Credit to Enter Iron Condor (Opened October 12): $.85 (all four legs).
Loss of ($62) or 15%, which represented max loss for the trade.
As always, stay keen on your risk management and trade carefully,