Closed: ODAX April 2018 Iron Condor

Summary

Last Friday, I closed the remaining Put Spread at a small loss after seeing the DAX index breaking supports and making new year lows. As the time of this writing, five days later, I am still not sure whether that decision was precipitated.

DAX 30 on March 28. Source Investing

Too bad I did not close the spread when I was winning 70% of the premium received. Anyway, I wanted to close the spread as I do not plan to pay attention to the stock market during this Easter week.

Trade details

Type	Name	Open Date	DTE	Spot	Max Profit	P/L
Call Spread	ODAX April 2018 13100/13500	14/2/2018	65	12300	225,50 €	173,50€
Put Spread	ODAX April 2018 11100/10700	14/2/2018	65	12300	153,50 €	-23.00€

You can see all the trade details here.

With the benefit obtained this month, I have recovered all the losses from the beginning of the year, but the profit is close to 0%! By comparison, the DAX 30 index has dropped 7,32% in the same period of time. Not really a consolation.


Portfolio

There is no other position in the portfolio right now. I´m studying what to do for the incoming May expiration cycle. Only, if there is a sharp drop, I would deploy another Put Spread for the front month (April).

See also

• Closed: ODAX February 2018 Put Spread
• 2018 Trades (so far)
• 2017 Track Record