Terra_Incognita
10-19 23:50

$SPY IRON_CONDOR 261127 CALL 790.0/PUT 735.0/CALL 800.0/PUT 745.0$ 1️⃣ Why am I making this trade now?

SPY Iron Condor 39 DTE expiring 27th Nov. 

Call spread $790/800

Put spread $745/735

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

SPY dropped 1.97% 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
10-19 22:52
US790.0/735.0/800.0/745.0
SidePrice | FilledRealized P&L
Credit
Open
-3.78
3
--
Holding
SPY IRON_CONDOR 261127 CALL 790.0/PUT 735.0/CALL 800.0/PUT 745.0
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Comment（2）

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  • AdairHoratio
    ·00:03
    20 to 25 delta on 39 DTE is fine, but vega can matter more than theta if SPY stops pinning. I’d watch gamma more near 745
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  • ZaneT
    ·11:48
    Great article, would you like to share it?
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