Terra_Incognita
10-26 23:55
$SPY IRON_CONDOR 261204 CALL 800.0/CALL 790.0/PUT 735.0/PUT 725.0$ 1️⃣ Why am I making this trade now?

SPY Iron Condor 39 DTE expiring 4th Dec.

Call spread $790/800

Put spread $735/725

Setup near 20 to 25 delta so it's a 50/50 probability trade.

SPY dropped 0.43% last week but within trading range and opened higher today balancing back the trade.

I'm looking for range bound trade to be profitable.

2️⃣ What’s my plan from here?

take profit at 50%

Take loss at 2x premium collected. 
SPY Iron Condor
10-26 22:14
US800.0/735.0/790.0/725.0
SidePrice | FilledRealized P&L
Credit
Open
-3.39
3
--
Holding
SPY IRON_CONDOR 261204 CALL 800.0/CALL 790.0/PUT 735.0/PUT 725.0
Trade Feed: Who is your favorite trader?
Come to the Trade Feed Topic to find more trading opportunities! Also, please feel free to recommend and introduce fellow Tigers to the "hidden gem traders" that you've discovered!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • MosesMoses
    10-27 00:02
    MosesMoses
    735/725 does feel a bit more defensive. Is that mostly for the CPI gap risk, or just where the 20 delta lined up better on your chain?
    • Terra_Incognita: 
      I’ve positioned it to around 20 to 25 delta. With both wings, that’s already a 50/50 win/lose risk
Leave a comment
2
22