In order to take risk off the table before another overnight risk, our SPX June Iron Condor Position was exited today just shy of target gain.

As of approximately 3 pm Est. with SPX at 1631.98, our SPX Iron Condor (test kitchen trade) expiring this week was just shy of target gain, or +$190. Our target gain on the position was $204. Rather than risk another overnight with the potential for a gap against our position, the position was closed.

A summary of the position follows:

Credit Received to Open Position: $3.40

Debit to Close Position: $1.50

Net gain before commissions: $190

This represents a 7.1% gain on actual risk/margin.

With the upcoming FOMC meeting and press conference on Wednesday, we will not open any new positions for next week until either Wednesday afternoon or Thursday.

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

Dot Hazlin