SPX Weekly Iron Condor Closed; Stop Loss Hit
Our stop loss exit order triggered this morning for the July 5 weekly Iron Condor; position closed as follows:
- BOUGHT SPX July 5 2130 Call, .25 Debit.
- SOLD SPX July 5 2140 Call, .10 Credit.
- BOUGHT SPX July 5 2050 Put, 8.05 Debit.
- SOLD SX July 1 2040 Put, 5.90 Credit.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $2.30 (all four legs. )
Net Credit to Enter Iron Condor: $1.45 (all four legs)
(Loss): Loss of $(85).
This represented a loss of 10% of the margin/risk and the pre-set max loss per the guidelines for the trade.
As always, stay keen on your risk management and trade carefully,