Thursday, 28 December 2017

New position: ODAX February 2018 Iron Condor


After closing the January position, I opened a new one for the February expiration cycle. It is a regular Iron Condor placed at 12300-11900 on the put side and 13600-14000 on the call side.

DAX 30 on December 28th 2017. Source Investing
I am also reusing the remaining debit call spread placed on 13400-13450 which is a remnant of last month´s position.

Closed: ODAX January 2018 Iron Condor


After closing the put leg some days ago, today I was able to close the remaining call spread locking around 73% of the premium received.

DAX 30 on Dec 28th 2017. Source
I decided not to wait until expiration in order to open a new Iron Condor in February, while reusing the February 13400/13450 debit spread as hedge. Having the two call spreads open at the same time seemed too much risk for me.

Thursday, 14 December 2017

ODAX January 2018 Iron Condor Update: Closed Put Spread


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.

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.