SPY IRON CONDOR, CLOSED FOR 32% ROI

3/17/17 Update – Close for Profit  (32% ROI)

We were able to close this SPY Iron Condor for a 79$ profit, which was our target of 50% of premium received.

To execute this trade we did the following:

  • Bought to Close 1 SPY 04/14/22 Call 466.00 @ 0.73
  • Sold to Close 1 SPY 04/14/22 Call 470.00 @ 0.49
  • Bought to Close 1 SPY 04/14/22 Put 403.00 @ 3.95
  • Sold to Close 1 SPY 04/14/22 Put 399.00 @ 3.41

— Jerry


FEB 15, 2022 – ENTER A SPY IRON CONDOR

2/15/22 – With SPY trading $468, and an IVR of around 59%, consider selling a 399/403 466/470 Iron Condor out to April 14th. I collected for 1.58, which which is great considering my strikes are only $4 wide. After entry I set a GTC order to close at 50% of the premium collected ($79).

  • Sold 1 SPY 04/14/22 Call 466.00 @ 3.80
  • Sold 1 SPY 04/14/22 Put 403.00 @ 7.37
  • Bought 1 SPY 04/14/22 Call 470.00 @ 2.83
  • Bought 1 SPY 04/14/22 Put 399.00 @ 6.76
  • Total Premium Collected: 158$
  • Total Risk: 242$
  • Rationale: This is a defined risk trade. You can make up to $158 by 4/14 if SPY is trading between 403 – 466 at expiration.
  • Assumption: Neutral
  • Timeframe: ~ 2-6 weeks

– Jerry

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