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Live Iron Condor in BABA

Currently trading at $187, the stock has been in a range between roughly 170 and 200 since Mid August, about 6 months. I put on an Iron Condor today. Sell 1  Apr 6  207.5 Call,  Buy 1  Apr 6  212.5 Call, Sell 1  Apr 6  167.5 Put, Buy 1  Apr 6  162.5 Put,  Total Credit  $85. Margin or risk for 1 contract is $415. The expiration of April 6 is 31 days from today. Looking to buy in the spread around .30  Debit.  The profit target would be $55 on capital of $415 for 1 contract, or a yield of 13%. If Baba goes against me price wise, I will close out the Iron Condor if the spread price that I sold for .85 credit, trades over $2. Dan Sheridan dan@sheridanmentoring.com