SPX August 5 Weekly Iron condor Closed.
This week's position closed as follows:
- CLOSED SPX August 5 2015 Calls.
- CLOSED SPX August 5 2025 Calls.
- CLOSED SPX August 5 1955 Puts.
- CLOSED SPX August 5 1945 Puts.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $.75 (all four legs)
Net Credit to Enter Iron Condor: $1.35 (all four legs)
Gain (Loss): Gain of $60.
This represented 7% of the margin/risk and target gain for the trade.
The planned entry date for the next weekly cycle will be Thursday of this week. This is for the September 1 cycle expiring September 5. The option code is SPXW140905. There are several economic reports being released before the open, so it is recommended to wait until the market settles. Depending on the market conditions and available credit, I may wait until the afternoon to open the position. Entry strikes and suggested credit will be posted when the working order is submitted.
As always, stay keen on your risk management and trade carefully,