After 15 days out of 52, without any movement in the DAX index and today´s significant drop in IV, I managed to close the Put leg of the Iron Condor for about 60% of the maximum profit.
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| DAX 30 on December 14th 2017. Source Investing |
I am being quite conservative here, as the put leg was the more vulnerable in this trade, as in case of a drop I would not have any hedge to finance a possible adjustment (unlike the call leg with the February Bull Call Spread) while I still would incur in the loss of the hedging trade.
Trade status
You can see all the trade details here.
The plan now, is to keep holding the Call Spread until expiration and, in the case of a nice drop and IV increase, I might re-open the put spread at a lower strike.
See also
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