Closed: October 2017 Credit Put Spread

Summary

Today, after waiting a bit longer than expected (36 days out of a total of 79), I was able to close the trade.

DAX on September 7 2017. Source Investing.com

I closed the Put Spread after reaching 50% of the maximum theoretical profit, which means 103€, or a +0,6% account increase since the beginning of the year (+6,7% compared to +5,8% in the DAX).

Final trade details

Type	Name	Open Date	DTE	Spot	P/L
Put Spread	ODAX Oct 2017 11300/10800	2/08/2017	79	12250	103,00 €

You can see all the trade details here.

Taking profits is always good, but I can not negate that this was bad timing. Just a couple of days after opening the trade, the DAX dropped 200 points and the Implicit Volatility reached almost 20. If I had done the trade then, a bigger profit would have been made in a shorter time.

Anyway, as discussed when opening the trade, I think that closing today was the right thing to do, as the trade setup meant bigger risk than other trades (the width between the short and long legs was 500 points).

Current Portfolio

Type	Name	Open Date	DTE	Spot	Max Win	Max Loss
Put Spread	ODAX Nov 2017 11000/10600	28/08/2017	81	12120	158,80 €	1.643,00 €
Call Spread	ODAX Nov 2017 12800/13200	28/08/2017	81	12120	198,50 €	1.643,00 €

My other position, the November Iron Condor, is already taking heat on the Call side and the underlying in getting closer to the adjustment point. Let´s see how does it evolve in the following days.

Cheers!

See also

• Opened October 2017 ODAX Credit Put Spread
• Opened November 2017 ODAX Iron Condor
• 2017 trades (so far)