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.


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!


Marie Louise said...

This is a nice post of iron condor although this is an old post but valuable for me. I have also in stock trading industry and searching some online discussions and videos to enhance my knowledge. During my research I found some great blog post of Market Taker Mentoring which is good to know about iron condor for beginners. People who visit this post will be helpful also by going to those blog posts.