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closed Positions

spy: 03.03.20 – 03.30.20

ETF | S&P 500 | Status: Closed

Adjustment #1

View original trade
03.24.20
Despite the appearance of a wide profit range at trade entry, this
was blown out pretty quickly in the global market meltdown. We have a massive rally today, so this adjustment is probably now or never if I want to do it for a net
I'm still
and think the market could easily sell off again, especially after such an overly-dramatic up move... But in case it doesn't, I'm
to May. I'm able to reduce my max loss by $0.32 and gain another month of time to let the market fear settle and maybe get a rally back toward my
I don't have a very wide window to profit, but I might be able to cash out for a smaller loss if the market continues upward. We'll see what happens... I basically consider this trade a lottery ticket at this point.

Risk Profile:

Figure 2

Strategy: Roll Out and Down

stc 1 apr 17 259 put
btc 1 apr 17 264 put
btc 1 apr 17 322 call
stc 1 apr 17 327 call
bto 1 may 15 259 put
sto 1 may 15 264 put
sto 1 may 15 280 call
bto 1 may 15 285 call
Fill Price: $0.32 credit

Position Analysis

U/L Price: $240.43
IV: 54.8%
IVR: 61.4
Liquidity: 4/4
Position: Short May 15 259/264/280/285 Iron Condor
POP: 11%
Cost Basis: $2.03
Risk: Undefined
BPR: $500
Max Profit: $2.03
Max Loss: $2.97
Target P/L: Scratch
Break Even(s): $261.97, $324.03
Extrinsic Value: -$99.00
Net Delta: 1.98
Net Theta: -0.074

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