SPY March Iron Condor Stop Loss Hit
The bulls were too much for this month's SPY Iron Condor; our stop loss was hit earlier today and the position was closed as follows:
- BOUGHT SPY March 200 Call, 1.84 Debit.
- SOLD SPY March 205 Call, .28 Credit.
- BOUGHT SPY March 168 Put, .02 Debit.
- SOLD SPY March 163 Put, .02 Credit.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $1.56 (all four legs)
Net Credit to Enter Iron Condor (Opened February 9): $.95 (all four legs)
This represented 15% on margin, the pre-set max loss as per the guidelines.
I had some internet issues so was unable to post the closing details earlier; I apologize for the delay.
This is the first loss for the year on the SPY Iron Condor; so we will continue as per the guidelines and look for a new trade entry for April sometime next week.
As always, stay keen on your risk management and trade carefully,