SPX April 28 Weekly Iron Condor stop loss hit; position closed.

This morning's continuing rally was too much for the April 28 Iron Condor; our stop loss was hit and the position was closed as follows:

Closing details are as follows:

BOUGHT SPX April 28 2395 Call, 4.15 Debit.

SOLD SPX April 28 2405 Call, 2.00 Credit.

BOUGHT SPX April 28 2265 Put, .20 Debit.

SOLD SPX April 28 2255 Put, .10 Credit.

Net Debit (all four legs): $2.25

Net Credit to Open Position: $1.40

This represented a loss of $(85), 10% of the margin/risk and our pre-set max loss for the trade. It's always difficult to swallow a loss, but we have only incurred one other loss this year on the weekly Iron Condor, so still very favorable results for the year.

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

Dot Hazlin