Adujst - Closed SPX Call Wing

Written on June 5, 2008 by OptionsRopeaDope

Did this yesterday, after a couple of days of drops… I had already adjusted this wing down once to generate a total credit of 1.3 for this very wide condor after closing this wing. Now i only have a Put credit spread on at 1280/1290, and the short put has a delta of 4. Tried to close that wing down for .1 today, but no luck, so I’ll let it ride a little longer.

Glad I closed out too.. the call wing, had I kept it, would have widened by about .3 or so, eating into my profits. Considering I had some trades go against me (see next post) it’s nice to know some went for me also. Thank goodness for a portfolio, for the 100th time.

Popularity: 4% [?]

If you enjoyed this post, make sure you subscribe to my RSS feed!

Other posts like this one:

  • Some Past trades - March expiration
  • Worst Financial Condition Since the Great Depression
  • Updates on April trades - QQQQ, SPY
  • Updates on April trades - IWM
  • Adjustments on IBM, RUT, SPY - SPX below 1260?

    • Category Posted in Real Trades, Iron Condors

    RSS feed | Trackback URI

    Comments »

    No comments yet.

    Name (required)
    E-mail (required - never shown publicly)
    URI
    Your Comment (smaller size | larger size)
    You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong> in your comment.

    Trackback responses to this post

    Copyright (C) 2008, OptionsRopeADope, LLC All rights reserved. U.S. Government Required Disclaimer: Commodity Futures Trading Commission.*Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.