IWM is hovering at the upside adjustment point for the December Iron Condor.
As of this writing, IWM is trading at 112.05, hovering at the upside adjustment point. However, as I analyze the cost of the adjustments, in order to maintain any credit in the trade the position size would have to be increased more than 50% of the original size, which is not recommended.
The position is currently at breakeven. From today's sideways action, this could be a quiet trading week, although surprises can happen at any time as we all know so well. I see two scenarios for the current position rather than making the adjustment:
1. Close the position at breakeven.
2. Keep the current position open as long as IWM stays between the short strikes. The position would then be exited at either short strike, target gain (10% margin or $41), or max loss (15% or $62).
I will keep the position open as it now stands, and manage as outlined above.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,