Saturday, June 29, 2013

Update on my July 13 DIA Iron Condor Option Position

Dear fellow options traders,



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

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

On 21/6/13 when Dow keeps dropping around 300 points, position earns about $200.

On 24/6/13, the 8 X bear call spread portion of the DIA iron condor was closed at the limit price of $0.20.

I've decided to close the rest of the positions on 24/6/13, and captured a profit of $154 ($259 - $105 commissions).

Profit of $154 out of the risk capital of $1600 comes out to be about 9% gain for a trading period of about 1 month.

Yours Truly,

Tony Chai

PS. You can find out more on how to set up an 'Uncle Joe' iron condor position over here.

2 comments:

wild dreams said...

Hi Tony!

Nice blog and you are a condor selling? I do options selling too.

Looking forward to more sharing with you!

Wd

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