Saturday, May 25, 2013

Update on my July 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.

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

As of 24/5/13, I've made some adjustments to my iron condor position from what I've learned from the Iron Condor Course by widening the wings at both ends of the iron condor. This helps to lift the current white profit line at both ends of my iron condor option position considerably.

As usual, I will monitor my iron condor option position daily and apply the adjustment techniques when necessary.

Yours Truly,

Tony Chai
Option Trader (Singapore)