Live Calendar Trade in SPX

With VIX dropping a lot in the last few weeks, I like a Calendar today. I bought 1 Oct 4 Weekly 2980 Call and sold 1 Sep 27 Weekly 2980 Call, total Debit 6.80 ($680). Goal is to make 10% of Capital or around $70, would sell out Calendar for $7.50 Credit for Profit. Max Loss would be about 12% or around $85. If Calendar got to $5.95 or lower, would get out. My Oct 4 expiration of my longs is 25 days from now and my short Sep 27 Weekly is 18 days from now. At what point over the next 2-3 days, before the max loss, would I look for a possible adjustment or just get out for a small loss and possibly re-position my Calendar? Upside about 3005 and downside 2950.


Dan Sheridan

SPX Iron Condor

Yesterday during a webinar with Ally Invest, I put on an Iron Condor in Sep 27 expiration, 46 days out and with 5 wide credit spreads. Sold 3070 Call and Bought 3075 Call. Sold 2660 Put and Bought 2655 Put. Total Credit $1, and Risk $400. Looking for 10 percent profit on $400 of risk or Capital and don’t want to lose more than 15% of $400.

Dan Sheridan