[TheOptionClub.com] Re: Confusion over Iron Condor (2)

 

Just as an update I ended up rolling out of the DEC 620 and 630 calls into the 640 650 calls. Looks at the moment to be holding well! Overall delta is -14 on the pos and Theta is +50

--- In OptionClub@yahoogroups.com, "kevinh01010101" <kevinhelman@...> wrote:
>
> Sorry for starting another post but I keep replying to the existing posts and somehow its not getting posted (or I cant seem to find them)
>
> Thanks very much for all your replies!
>
> Chris,
> WOW! Great explanation thanks.
> I put this trade on knowing that this market was going to be volatile and would more than likely need many adjustments. I thought it might be a good "test case" I don't think I would be putting real money into yet until I am bit more experienced. (I'll stick to the basic Vertical Spreads etc for the meantime)
>
> My Theta when entering this trade was high (140) So I believed that as time went on, as long as the underlying traded comfortably within my range the position would start to become profitable. However, as of today my deltas on the position are -51 and my short calls delta is 31. I believe that this needs immediate adjustment. Some ideas I had was to buy either 1 DEC 600 call or 2 additional 630 calls. Both getting me back to delta neutral. Or I could roll.
>
> I did take screen shots of the position in optionvue however couldn't figure out how to post them :(
> Thanks again for all your help guys, any more suggestions would be appreciated.
>
> Kevin
>

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