UPDATE: May 22, 2017
The trade executed this morning. As the old Iron Condor closed, this new opened and we are in the trade. We collected 0.35 credit or $35 dollars. Now we will wait for this trade to develop.
We also placed buy back orders for both our short legs (to buy back our short 16.50 put and 21.00 call) for 0.05 debit.
I am also placing a new Iron Condor trade in my ROTH IRA account using TECK (TECK) as underlying.
I wish I could trade strangles in the IRA but it is not possible to trade naked options. Thus I need to use Iron Condor as a substitute.
Here is a trade detail:
BTO 1 TECK Jun23 15.00 put
STO 1 TECK Jun23 16.50 put
STO 1 TECK Jun23 21.00 call
BTO 1 TECK Jun23 22.50 call
@ 0.30 credit limit
TECK @ 18.69
If the trade doesn’t execute on Monday morning, I may adjust the credit to get into the trade.
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