ODAX April 2018 Iron Condor: Closed Call Spread

Summary

Last Wednesday, after almost 30 days, no movement in the DAX index and a nice volatility contraction, I was able to close the Call side of the Iron Condor locking around 77% of the premium initially received.

DAX 30 on March 16th. Source Investing

There were still more than 5 weeks to go, so I preferred to take the money from the table, giving the index tendency for rallying (although it is taking a more bearish profile lately).

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 €

You can see all the trade details here.

The remaining Put Spread has reached around 60% of the maximum possible profit. I think that I will wait for now in order to try to squeeze an additional 20%.

Portfolio

Today expired the other position present in the portfolio, a smaller-than-usual Put Spread.

See also

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