Finding a good broker for iron condor trading

Discussion in 'Options' started by hefir, Jan 4, 2012.

  1. hefir

    hefir

    Yes. My current NDX position is Feb 2500/2475/2175/2150 opened on 01/04 for 30 days with probability of 68.8%. The IV was 23.1%. The idea is of course to close it much earlier. For example, I was out of January positions by 12/22. Why do you think that I should be protected from this?
     
    #11     Jan 5, 2012
  2. 30d? Probability of expiring profitable? What credit did you receive?
     
    #12     Jan 5, 2012
  3. hefir

    hefir

    Considering high commissions, I am trying to construct a wide enough profit range to minimize the number of adjustments and get out of the position in 10 to 15 days. (I am beginning to accumulate positions at 50 days to expiration and trying to finish this process at 40.)
    For the 300 point wide position I described in my previous post, the credit is $7.80 but I am normally satisfied with getting 1/3 to 1/2 of that, putting a buyback order around $5. For this specific trade, I should get around 10%.
     
    #13     Jan 5, 2012
  4. Actually it looks good. GL.
     
    #14     Jan 5, 2012