Open Position: SPX Iron Condor for August 4 Cycle closed.

At approximately 1:15 pm, our closing order for .40 executed to buy back this spread. The price of SPX at the time it closed was 1658.18. The net gain after commissions was $107, 12.7% of actual margin/risk, just slightly less than target for the trade. I mentioned the other day that I would close if the price got down to .40; it just wasn't worth the added risk to me to wait for it to close for .30 for another $10. More aggressive traders may choose to keep the position open until the debit to close reaches .30

The next trade entry date will be Thursday, August 21, for the August 5 cycle, if market conditions are suitable. I will post trade entry details at at the time of entry.

Stay keen on your risk management and trade carefully,

Dot Hazlin