SPX July 8 Weekly Iron Condor closed before FOMC minutes.
As I wrote in this weekend's update, the weekly SPX Iron Condor was closed before the release of the FOMC minutes this afternoon. Closing details which filled right after the open are below:
Closing details are as follows:
BOUGHT SPX July 8 2135 Call, .30 Debit.
SOLD SPX July 8 2145 Call, .25 Credit.
BOUGHT SPX July 8 2050 Put, 3.00 Debit.
SOLD SPX July 8 2040 Put, 1.95 Credit.
Net Debit (all four legs): $1.10
Net Credit to Open Position: $1.30
This represented a gain of $20, 2.2% of the margin/risk. We were not able to stay in the trade to reach target gain this week, but any small gain is better than a loss in this volatile market.
As always, stay keen on your risk management and trade carefully,