Some Past trades - March expiration

Written on March 19, 2008 by OptionsRopeaDope

Thought I’d stick some of these out here in my quest to post more regularly. These were the trades I used for March, and their status abour February 20 or so -

In general, I try to open condors where the shorts have a 7-9 delta (each), and I try to clear .10 or better for a total credit. So here they are…

Description Qty Price Stock Last Pos Bid Pos Ask
IWM Mar 08 56.00 Put 40 0.09 69.86 0.05 0.12
IWM Mar 08 57.00 Put 40 0.11 69.86 0.08 0.14
IWM Mar 08 58.00 Put -40 0.16 69.86 0.15 0.17
IWM Mar 08 59.00 Put -40 0.2 69.86 0.17 0.23
IWM Mar 08 79.00 Call -40 0.14 69.86 0.12 0.16
IWM Mar 08 80.00 Call -40 0.09 69.86 0.08 0.11
IWM Mar 08 81.00 Call 40 0.06 69.86 0.05 0.08
IWM Mar 08 82.00 Call 40 0.03 69.86 0 0.06
QQQQ Mar 08 35.00 Put 25 0.05 43.77 0.04 0.05
QQQQ Mar 08 36.00 Put -25 0.07 43.77 0.06 0.08
SPX Mar 08 1170.00 Put 10 3.8 1349.99 3.4 4.2
SPX Mar 08 1180.00 Put -10 4.4 1349.99 4 4.8
SPX Mar 08 1485.00 Call -10 1.45 1349.99 1.3 1.6
SPX Mar 08 1495.00 Call 10 0.93 1349.99 0.65 1.2

There was a QQQQ wing on the call side, but I closed it out for .01 debit before I got these read out. Here’s how some others closed out -

Closed the QQQQ spread for .02 on 2/21
Closed IWM 80/82 calls for .03 on 2/21
Closed IWM 56/58 puts for .03 on 2/26
Closed IWM 57/59 puts for .03 on 2/27
Bought back the IWM 79 calls for .03 2/28, still have the 81 calls, but they are worthless now.

I closed all the rest within the next few days, including the SPXs for about .15 each wing. 

All around, a good month, all profitable, and in a shizo market. Made about 8% I think. I’ll put my April trades, currently open, in the next post.

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Posted in Real Trades, Iron Condors, QQQQ, IWM, SPX