SPY October Iron Condor Stop Loss Hit, Position Closed

Today's continuing rally was too much for the SPY October Iron Condor; the stop loss triggered and the position was closed as follows:

- BOUGHT SPY October 253 Call, 1.49 Debit.

- SOLD SPY October 258 Call, .11 Credit.

- BOUGHT SPY October 239 Put, .15 Debit.

- SOLD SPY October 234 Put, .10 Credit.

Closing order executed as a single order: BUY " Iron Condor" .

Net Debit to Close Iron Condor: $1.43 (all four legs).

Net Credit to Enter Iron Condor (Opened September 11): $.80 (all four legs).

(Loss): Loss of -$63.

This represented 15% of the margin/risk, our pre-set max loss for the trade.

We have had such a run up there is "certain" to be a pullback at some point, but we need to stay on course with the trade plan and follow the guidelines for our plays.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin