SPY December Iron Condor Stop Loss Hit

The continued rally caused our stop loss order to trigger and the position was closed this morning as follows:

- BOUGHT SPY December 222 Call, 1.66 Debit.

- SOLD SPY December 227 Call, .27 Credit.

- BOUGHT SPY December 201 Put, .13 Debit.

- SOLD SPY December 196 Put, .08 Credit.

Closing order executed as a single order: BUY " Iron Condor" .

Net Debit to Close Iron Condor: $1.44 (all four legs).

Net Credit to Enter Iron Condor (Opened November 9): $.82 (all four legs).

Loss of ($62).

This represented 15% of the margin/risk and our pre-set max loss for the position. The track record for 2016 is still favorable for the SPY Iron Condor, so we will the play in the trade plan for next year.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin