So far our two open trades are working their way towards target.
Below is the current status of the two positions:
1) SPX August1 Put Credit Spread:
SPX August 1 Put Credit Spread as of the close Friday:
The position is currently +$65, just shy of the target. I was not at my desk at the close Friday; I most likely would have tried to get the position closed for the debit of .25. My order is in to close the spread for .20, which will net $66 after round trip commissions. This gain if achieved will represent 7.3% of actual margin.
2) SPX August 1 Iron Condor:
SPX August 1 Iron Condor as of the close Friday:
The position is currently +$25. Target gain remains at $105. The current closing order is in for .30, which will net $102 after commissions, just shy of target gain. Again, some traders may choose to exit the position earlier and accept a slightly less gain. For example, to buy back either side for .20, or .40 for the whole position, would still net $92 after commissions, a 10.7% gain on actual margin.
An update will be posted early next week. Please keep in mind that next week the FOMC takes the stage again; they begin their quarterly meeting Tuesday and conclude Wednesday with an announcement at 2 pm Est. It is recommended that these two open positions be closed prior to the announcement, if they have not already been closed.
As always, stay keen on your risk management and trade carefully,