All of the Iron Condor legs for FEB expiration are closed out now, with the last having hit it's profit target Thursday. I promised to summarize all of the legs I put on during the month, so here they are. You will see 3 CALL legs and 2 PUT legs. I never saw a good opportunity for the last PUT leg, so I just left it as it was. This created a bit of a bullishly skewed Condor, but the last leg was a 1/4 position, so it was still mostly neutral throughout the month.
Date Strikes Credit Close Net
12/22/08 570/560 .65 .20 .45
12/22/08 330/320 .70 .20 .50
1/13/09 350/350 .60 .20 .40
1/16/09 560/550 .55 .15 .40
1/21/09 540/530 .50 .15 .35
Overall, this was a GREAT Iron Condor month. After all of the various legs weighted accordingly, the yield was about 8.9% with no adjustments being made throughout the quarter. I wish they were all this painless.
Good Trading...
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