Symbols traded: XSP, short Iron Fly (3DTE)

I entered a short Iron Fly position on XSP, which tracks the S&P 500, on a Friday and exited the next Monday, shortly after the opening bell, for a 36.4% profit. My profit goal was 25%.

XSP short Iron Fly

LOT:	7	ENTRY DATE:	3/1/2024
		MANAGEMENT:	3/4/2024	EXPIRATION:	3/4/2024
		DAYS HELD:	3

Entry and Exit

METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.91	$ (1.40)	$ 0.51	36.4%	4408%
Stock price	$ 513.26	$ 512.95	$ (0.31)	-0.1%	-7%
Impllied Volatility Rate	10.4	12.1	1.7
Days to expiration	3	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA	IN PRICE	OUT PRICE	NET PRICE
Calls
Long	516.00	78.0%	20	$ (0.35)	$ 0.05	$ (0.30)
Break-even	514.91	61.0%	36.5
Short	513.00	44.0%	53	$ 1.45	$ (0.71)	$ 0.74
Puts
Short	513.00	54.0%	47	$ 1.16	$ (0.83)	$ 0.33
Break-even	511.91	68.5%	32.5
Long	510.00	83.0%	18	$ (0.35)	$ 0.09	$ (0.26)
						======
				`	NET TOTAL:	$ 0.51

Risk and Reward

Per contract:
Reward	191.00
Risk	109.00
R/R Ratio (n:1)	0.6

By Tim Bovee, Portland, Oregon, March 1, 4, 2024

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

License

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Based on a work at www.timbovee.com.