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Monday, September 28, 2015

Russell 2000 ETF (IWM) Iron condor

9/4/2015 (11:11:31 am, PT)

buy +1 October 2015  $119 call
sell -1 October 2015  $115 call  (37% prob ITM)
sell -1 October 2015  $109 put  (40% prob ITM)
buy +1 October 2015  $107 put

net credit:  $2.02 x 1 x 100 =  $202 received


Analysis:
  • no risk on the down side
  • $198 risk on the up side
  • break even at $117.02


9/28/2015 (9:46:15 am, PT)

buy back entire iron condor for $1.11 (debit)

NET PROFIT:  $78.64


Success!



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