[Closing Condor on SPY]
Dear Member:
Two weeks have passed since I opened my iron condor on SPY. Since the condor was a sale of time and the time has passed without the issue running outside m(SPYPU)
y parameters, there is a nice profit percentage now available. I am placing an order to simultaneously close all legs at a limit of a debit of $0.11. If filled, this will result in a two week return on risk of 29% before commission. The order is as follows;
Simultaneously
Sell to close Apr 141 calls (SFBDK)
Buy to close Apr 140 calls (SFBDJ)
Buy to close Apr 125 puts (SPYPU)
Sell to close Apr 124 puts (SPYPT)
All at a debit limit of 11 cents.
DISCLOSURE: At the time of publication, I hold the referenced options on SPY as well as a long Dec 140 call position.
Sincerely,
Bill Kraft
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