Winning-Options.com

Closed the call spread of the SPX Iron Condor for $0.20. If a bounce takes place next week, we may take in some more credit by selling some call options, but time is running out. We have about 25 days left till expiry and there isn’t much premium left

unless we take more risk. I’ve grown a bit risk adverse and it is also not what this site is about. We’ll see next week. However, we may want to take some money in if we need to adjust the put side of the trade. With the 24 points drop, our put spreads are starting to hurt. I foresee if we hit 1300 in a hurry, say next 2 - 3 trading days, we’ll need to do some adjustments. I hope 1300 holds, but market doesn’t care what I hope for.

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