Thursday, 28 September 2017

ODAX November 2017 Iron Condor adjustment (III)

Summary

DAX keeps climbing and the Call leg of the trade is getting really close to the money, so I made the last adjustment before closing it. I rolled the put leg from 11500 to 12000.

There are still 50 days to go, so we are three weeks away from the usual 30 days mark when I like to close the trades. Let´s see if I can hold until then and I might break even for this month.

DAX on September 29th. Source Investing
Pretty nice climb during this month, all the way from 11950. Let´s see if the previous 12800 maximum value holds and we have a pullback that allows to close the position in a better condition. If not, I will close it for the bigger loss of 2017 (so far).

Trade status

I have taken out of the picture the Dec 13600 Long Call, as I got all the credit back when I sold the Dec 13650 Call and, at the same time, realized that it was not really hedging anything regarding this 12800-13200 Call Spread.

I got 73,5€ from the previous Put Spread, while getting 123,5€ for the new one.

TypeNameOpen DateDTESpotP/L
Put SpreadODAX Nov 2017 11000/1060028/08/2017811212071,00 €
Put SpreadODAX Nov 2017 11500/1110011/09/2017671240073,50€
Put SpreadODAX Nov 2017 12000/1160028/09/20175012700
Call SpreadODAX Nov 2017 12800/1320028/08/20178112120

Theoretical max loss and profit are now:

Max loss: 2000,0 - (71,0 + 198,5 + 73,5 + 123,5)   = 1533,5€ (DAX < 11600 or DAX > 13200)
Max profit:  71,0 + 198,5 + 123,5 + 73,5  =  466,5€   (DAX between 1200 and 12800)

See also

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