Option Trading Articles: RE: [TheOptionClub.com] IC Delta as an Exit/Adjustment Indicator

Saturday, May 30, 2009

RE: [TheOptionClub.com] IC Delta as an Exit/Adjustment Indicator

Nava when the IC hits your short strike you are saying you buy a long option ATM two months out turning that strike into a calendar and having an extra long strike (from your original IC)?

Akram Khan

From: OptionClub@yahoogroups.com [mailto:OptionClub@yahoogroups.com] On Behalf Of Nava Elgar
Sent: Friday, May 29, 2009 2:05 PM
To: OptionClub@yahoogroups.com
Subject: re: [TheOptionClub.com] IC Delta as an Exit/Adjustment Indicator

I adjust Iron Condor in this way:
when the stock hits the short strike I am hadding long ATM for another 2 month.

When it happen my Iron condor now he's Iron condor plus.

I am looking from my long to cover my original risk +the risk of the long +% gain.

Did it in the past and it is working.

Keep simple.

Nava Elgar

www.GoBulls.co.il

From: "cguy444" <carmelo5791@aol.com>
Sent: Friday, May 29, 2009 6:09 AM
To: OptionClub@yahoogroups.com
Subject: [TheOptionClub.com] IC Delta as an Exit/Adjustment Indicator

Does anyone here use delta as one way of determining when to exit or adjust an Iron Condor position?

I recently watched a CBOE webinar by Dan Sheridan where the topic was adjusting condors. He said when the delta reaches a certain point think "Danger Will Robinson" :-). He didn't get into too many specifics so I thought I'd ask the group.

Thanks,

Carmelo

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