SPY January Iron Condor Stop Loss Hit, Position Closed
The continuing rally was too much for the January SPY Iron Condor; the stop loss triggered and the position was closed as follows:
- BOUGHT SPY January 271 Call, 1.60 Debit.
- SOLD SPY January 276 Call, .20 Credit.
- BOUGHT SPY January 258 Put, .12 Debit.
- SOLD SPY January 253 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 December 11): $.81 (all four legs).
(Loss): Loss of -$63.
This represented 15% of the margin/risk, our pre-set max loss for the trade.
As always, stay keen on your risk management and trade carefully,