Open - QQQQ Iron Condor

Written on July 25, 2008 by OptionsRopeaDope

Things shook out with a little bump in IV over the last couple of days to give me a bread-and-butter condor that makes me comfortable. Small credit, but a 10%+ drop will need to happen to kill this one. I know there have been a few 10% mves in the last 2 months, just banking on the liklihood of it happening again being very small.

Symbol  QQQQ 
Current Price  45.33
Current IV  25
IV Percentile - last 12 months  40
IV Percentile - last 6 months  50
Technical Support/Resistance  44 (41 very strong), 46
Opening Strikes  41-40, 49-50
Deltas of Shorts 9, 7
% distances from underlying about 10% each way
Opening Credit .09 
Initial Margin Req. .91
Break Evens  40.91, 49.09
Srikes w/current delta of 20/-20  43, 47.5
Prob of expiring w/o adjustments  83%
Profit Traget  .06-.07 (7%)
Max Loss  .1
Earnings/news catalyst before exp?  n/a
Risk Graph  

qqqqcondor.jpg

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    • Category Posted in Real Trades, Iron Condors, QQQQ

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