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Live Iron Condor Trade

18 Day SPX Iron Condor Live Trade put on around 11:30 am central today when SPX was about 2715.  S 1  Mar 23  2805 C,  B 1  Mar 23  2815 C, S 1  Mar 23  2575 P,  B 1  Mar 23  2565 P, $1.70 Credit, Margin $830. Delta of short put and call at trade entry was  12 and 13. Plan is to make 7-8% of $830 and not to lose more than 10% of $830. As of 2:43 central today, SPX has run up to 2727, up 36 for the day. The spread is trading at around $2 right now, we are down 30 divided by 830 or 3.6% now. Would look for possible adjustment when short call delta hits around 19, right now it’s at 16, with SPX at 2726. I might roll up my short calls 5 points  at an adjustment point as a possible adjustment. Dan Sheridan dan@sheridanmentoring.com