You can't beat the TOS platform for option analysis software. I can't remember what the trial period is, but you can try it for free. They also continuously add functionality month after month.
Thank you for this thread, I was wondering the same thing. I have some Iron Condors on SPX, NDX and DJX. When we had that sharp drop earlier this month I was trying to find ways to adjust them (even though they were about 15% OTM) and these all make sense to me.
Vikas - what software do you use to create charts like that? I am currently using IB as my broker and I have been looking at MetaStock, do you have something better?
Thank you all
Jacob
--- In OptionClub@yahoogroups.com , Vik <vikas.basantani@...> wrote:
>
> Hi Kevin, I think Dennis is right in that the P&L for the current date is
> possibly showing you a loss.
>
> If you look at the attached screenshot, you will see a current unrealized
> loss of approx $649.
> This is no surprise and you can even calculate this manually by observing
> that the 490/500 put spread you sold for 1.2 credit is currently priced at
> 0.9 and the 620/630 call spread you sold for 1.1 credit is now priced at
> 2.05. Net loss per contract = 0.95 - 0.3 = 0.65. For 10 contracts, this
> comes close to $650.
>
> With regards to theta, as some have pointed out earlier, it has to be
> positive and the risk graph attached here shows a theta of around 54.
>
> As Chris has pointed out, you have to think about what adjustment you will
> make if the position keeps going against you. You will be close to $2500
> unrealized loss if RUT moves up by 6% - this can again be seen in the
> screenshot attached.
>
> Cheers Vikas
>
>
> On Mon, Nov 9, 2009 at 4:07 AM, Dennis Alverson <alv70669@...> wrote:
>
> >
> >
> > Are you looking at the P/L line for the current date or at expiration? If
> > you are using TOS, there typically is (depending on how you configure it) a
> > white line for current date and a green line for expiration. You are
> > probably showing a loss on the white line. Use the Analyze tab to really get
> > a feel to what happens to the position as the different variables change
> > (time, price, vol, etc). One interesting thing to do is increase the date
> > and see how the white line (current) approaches the green line (expiration).
> >
> >
> > On Fri, Nov 6, 2009 at 2:12 PM, kevinh01010101 <kevinhelman@...>wrote:
> >
> >>
> >>
> >> Hi,
> >> I am very new to Iron condors. I put on a paper trade so I could "mess
> >> around" with adjustments etc The position I put on is.
> >>
> >> + 10 ^RUT DEC 490 PUT = $7.5
> >> - 10 ^RUT DEC 500 PUT = $8.7
> >> - 10 ^RUT DEC 620 CALL = $4.5
> >> + 10 ^RUT DEC 630 CALL = $3.4 TOTAL CREDIT = $2300
> >> RUT 562 at time of condor
> >>
> >> After several days and RUT at 580 i see that at this point, although still
> >> nicely between my short options prices (althought 22 delta on the short put)
> >> it shows me as being down net $1700 and I'm confused to the reason why.
> >> Withing my graph if it were to expire now it will be a profitable trade. On
> >> this note I do notice that my theta is -137. Still total delta on the Condor
> >> is -37
> >>
> >> Any help would be appreciated.
> >>
> >> Kevin
> >>
> >>
> >
> >
>
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