YHOO Iron Condor Closing Trade

YHOO Iron Condor Closing Trade

Closing YHOO Iron Condor

THE UNDERLYING: YHOO

THE CLOSE:

I’m buying back this Iron Condor at 40% max profit for $0.60

This has been a long trade but YHOO has stayed nicely in the expected range.

 

TRADE STATS

Original Trade Price: $1.00 credit
Closing Price: $0.60
Profit: $0.40

 

Copy the trade (1 lot)

BUY +1 IRON CONDOR YHOO 100 21 OCT 16 45/48/41/38 CALL/PUT @.60 LMT GTC ISE [TO CLOSE/TO CLOSE/TO CLOSE/TO CLOSE]

SPY Calendar Roll 2

SPY Calendar Roll 2

Rolling.
Opening Trade: SPY Calendar
Adjustment 1: SPY Calendar Roll

THE UNDERLYING: SPY

S&P 500 Index ETF.

THE TRADE: Calendar roll

I’m buying back the short 7 Oct Weekly 216 Call and selling the 14 Oct Weekly 216 Call for $0.60 credit.

This trade has been going very well and there is very little risk left. I will be looking for an opportunity to close this trade for a nice profit over the next two weeks.

TRADE STATS

Original Trade Price: $1.15 debit
Adjustment 1 Price: $0.46
Adjustment 2 Price: $0.60
Remaining Risk: $0.09

Copy the trade (1 lot)

SELL -1 CALENDAR SPY 100 (Weeklys) 14 OCT 16/7 OCT 16 216 CALL @.60 LMT [TO OPEN/TO CLOSE]

SPY Calendar Roll

SPY Calendar Roll

Rolling spy-calendar

THE UNDERLYING: SPY

S&P 500 Index ETF.

THE TRADE: Calendar roll

I’m buying back the short 30 Sep. 216 Call and selling the 7 Oct Weekly 216 Call for $0.46 credit.

After only two days in the trade there’s decent credit to roll reducing risk by exactly 40%.

There may be one more opportunity to roll before the closing trade. Hopefully SPY continues to trade around this level. and a nice spike in volatility would be helpful.

TRADE STATS

Original Trade Price: $1.15 debit
Adjustment Price: $0.46
Remaining Risk: $0.69

Copy the trade (1 lot)

SELL -1 CALENDAR SPY 100 (Weeklys) 7 OCT 16/30 SEP 16 216 CALL @.46 LMT [TO OPEN/TO CLOSE]

 

SPY Calendar

SPY Calendar

THE UNDERLYING: SPY

S&P 500 Index ETF.

Assumption: I expect SPY will consolidate slightly higher.

THE TRADE: Calendar

I’m buying the 21 Oct. 216 Call and selling the Sept 30 Quarterly 216 Call for $1.15 debit.

Looking for consolidation near the strike price and a rise in volatility to get a decent return on this trade.

There may be two opportunities to roll before the closing trade thus reducing risk and increasing profitability.

 

TRADE STATS

Opening Trade Price: $1.15 debit
Directional Bias: Neutral, slightly bullish
Max Profit: Unknown
Buying Power Reduction (BPR): $115
Days To Oct Expiration (DTE): 32
Breakeven Prices: Unknown
Probability Of Profit (POP): Unknown
Max Return On Capital (ROC): Unknown

 

Copy the trade (1 lot)

BUY +1 CALENDAR SPY 100 21 OCT 16/30 SEP 16 216 CALL @1.15 LMT [TO OPEN/TO OPEN]

 

YHOO Iron Condor

YHOO Iron Condor

THE UNDERLYING: YHOO

Yahoo has been talking about selling it’s core business for a while now. Aside from one $2-$3 jump the stock has barely moved in months.

Assumption: I expect YHOO will continue trading in a narrow range.

THE TRADE: Iron Condor

I’m selling the 45 Call and 41 Put and buying the 48 Call and 38 Put at the 21 OCT expiration for a net $1.00 Credit.

Even though volatility is low, I was still able to put this trade on for 1/3 of the width of the strikes. I expect YHOO will continue to trade between the short strikes but this trade will still make money if it’s within $1.00 of that by expiration.

I’ll be looking to take this trade off around 40% of max profit.

TRADE STATS

Opening Trade Price: $1.00 credit
Directional Bias: Neutral
Max Profit: $100
Buying Power Reduction (BPR): $200
Days To Oct Expiration (DTE): 51
Breakeven Prices: $40, $46

Copy the trade (1 lot)

SELL -1 IRON CONDOR YHOO 100 21 OCT 16 45/48/41/38 CALL/PUT @1.00 LMT [TO OPEN/TO OPEN/TO OPEN/TO OPEN]