Position Updates - 3 Condors, 2 Calendars
Written on August 4, 2008 by OptionsRopeaDope
Not much movement since the last post until today, and it was still a small movement overall. For my first adjustment of this cycle, I closed half of my EEM contracts as the position lost all its profit and seung to a loss. I had the thought of opening another calendar but didn’t at the end of the day because I thought it best to get out of the position altogether, given the odd strike price I was using (130, pre EEM split). The remainder returned to breakeven 
Also, My RTH Condor shot way up, giving me a flat day, and an overall portfolio gain of 4% with around 5 days left of trading.
QQQQ Iron Condor - 40/41 puts, 49/50 Aug Calls
| RRDelta | -13% |
| RRGamma | -18% |
| RRVega | -7% |
Delta/Theta = 2.13
1 Day 1 Std Dev Move (.62 points)
The position is slow to let the premium go, but it is leaking out slowly. Up 2% with more to come this week. Very safe.
NDX Iron Condor - 1650/1675 puts, 1975/2000 Aug Calls
| RRDelta | 4% |
| RRGamma | -1% |
| RRVega | -4% |
Delta/Theta = 1.4
1 Day 1 Std Dev Move (28 points)
Up 5%. Another 5% to go. Short deltas are 3 and 7. I wish they could all be like this one has turned out.
RTH Debit Condor - 80/85, 95/100 Put Condor
| RRDelta | 15% |
| RRGamma | -10% |
| RRVega | -5% |
Delta/Theta = 2.21
1 Day 1 Std Dev Move (1.53 points)
Up 11%on my account screen, but looking closer I think it isn’t accurate, as the bid-ask spread on the 95 and 100 puts are very wide. Looking at the open intrest in the 100 puts, I have alot more than I’d wish… and even though I think the chances of RTH reaching 95 are nil, it’s something else I need to look at on my trade-open templates.
EEM Calendar - 130 (43.33) Aug/Sep calls
| RRDelta | -10% |
| RRGamma | -16% |
| RRVega | 11% |
Delta/Theta = -1.86
1 Day 1 Std Dev Move (.73 points)
In my ast post I said “I’m hoping for a big one day profit jump”… instead I got the one day profit loss 
Down 1 1/2% overall, and I may close this out tommorrow on any downward move.
IBM Double Calendar - 125 Aug/Sep Puts, 130 Aug/Sep calls
| RRDelta | 11% |
| RRGamma | -10% |
| RRVega | 19% |
Delta/Theta = 1.46
1 Day 1 Std Dev Move (1.62 points)
IBM behaves range wise, but only at break even on this. This has plenty of juice to squeeze, and I’ll probably be out by Friday no mattwe what.
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Posted in Real Trades, Iron Condors, Calendars, QQQQ, EEM, RTH, IBM, NDX
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