stock trading, stock share

[Closing Put Side of Baidu.com (BIDU) Iron Condor] Dear Member: The great bulk of the profit has now been achieved in the Baidu.com (BIDU) iron condor. I entered the positions for a credit of $2.50 and a potential return on risk of 33 1/3% in 23 days. I am now placing an order to close the put spread portion of the play. My order is simultaneously to buy to close the Jan 290 puts (BDUMY) and sell to close the Jan 280 puts (BDUMX) at a debit limit of 25 cents. If filled, that will eliminate any downside risk whatsoever. The stock is currently trading around 330 a share so, though possible, it seems extremely unlikely that I would have to do anything with call spread side of the condor since the stock would have to move 100 points up by expiration on Friday. I my order is filled and I do not have to adjust the call side (and I seriously doubt I will), the final return on risk before commission will have been 30% in 23 days. DISCLOSURE: At the time of publication, I own the referenced iron condor positions. Sincerely, Bill Kraft
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