Monday, May 12, 2008

RUT July Iron Condor



My May condors were closed from standing orders today. I’m all cash right now. Looking at July Short 800, long 810, short 630, long 620. This order is going into tonight. This would be a 25% return in 66 days. I did look at June but if we break out here(north) we could run 770-780 and I would need to roll at that point if I wanted a decent return in the first place. Don’t care to roll!

760, 770,780, 790 and 800 are real strong resistance point and 700, 680, 650 on the support side.

I’m attaching my RUT weekly chart and the data I’m using to calculate my risk. I’m to exit at the latest by July 14th.

On the data chart I’m including the Gamma Risk this round. When the Gamma starts to explode so does my risk at the very end. I’m camping out for a happy medium Gamma and price.
Update: I was filled at 2.05 as shown in the charts above.
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A link to a video of what this trade is all about.
and

2 comments:

Matt J said...

You have to be liking what the RUT did today...Especially for your IC.

Are you still in your 800/630's? Because if you are then SWEET!

David Richardson said...

Everything is looking great. My delta is currently -33. Once we find support I might roll the 630s up.. Just depends on how fast/far this pullback is.