Thursday, May 23, 2013

My new Jul 13 DIA Iron Condor Option Position

Dear fellow options traders,

On 21/5/13, I've established a new DIA Iron Condor position using The ‘Uncle Joe’ Iron Condor Trading Plan.

Basically, the technique is to establish a iron condor options position which has at least 50 to 60 days till expiration, instead of the normal 30 days till expiration options.

Advantage :
1. better premium collected

Disadvantage :
1. higher capital outlay for setting up such a position.
2. because the position has a longer period till expiration, you may likely adjust the position during the life span of the iron condor.

But the iron condor course provides many techniques (a total of 10 techniques) on how to adjust the iron condor position to minimize further losses and could also turn the position around.



Sold 8 contracts of DIA Iron Condor. Capital outlay = $1,600. Possible credit = $679.

I will apply the adjustment techniques when necessary when the live price starts to threaten the determined maximum pain point.


Yours Truly,

Tony Chai
Options Trader (Singapore)

2 comments:

Lewis said...

Hi Tony, can share the adjustment method?

Tony Chai said...

Hi Lewis,

Thks for dropping by. I'm trading mainly forex now. Take care.

Here's my forex trading blog :

http://forextradingloa.blogspot.sg/

Regards,

Tony Chai