Symbols traded: A short Iron Condor position on IWM

The position expires in 42 days, on April 19. I intend to exit at 50% of potential profit or greater, or on management day, 21 days to expiration, March 29, whichever comes first.

IWM short Iron condor

LOT:	4	ENTRY DATE:	3/8/2024
		MANAGEMENT:	3/29/2024	EXPIRATION:	4/19/2024
		DAYS HELD:	21

Entry and Exit

METRIC	ENTRY
Options premium	$ 1.08
Stock price	$ 206.64
Impllied Volatility Rate	43.5
Days to expiration	42

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA	IN PRICE
Calls
Long	221.00	81.0%	19	$ (1.53)
Break-even	219.08	78.5%	22
Short	218.00	76.0%	25	$ 2.13
Puts
Short	195.00	79.0%	21	$ 1.87
Break-even	193.08	81.5%	18.5
Long	192.00	84.0%	16	$ (1.39)

Risk and Reward

Per contract:
Reward	108.00
Risk	192.00
R/R Ratio (n:1)	1.8

By Tim Bovee, Portland, Oregon, March 8, 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.