An iron condor has been opened on the SPX, allowing for a +1 SD move in either direction. A credit of $1.25 has been received and an adjustment plan is in place.
The location of your strikes is not particularly important to your overall success on these trades. What makes a great options trader is their ability to manage risk. Establish a plan to adjust your position should the market reach a given price point. Be consistent.
Christopher Smith
TheOptionClub.com
Discover the stock options strategies favored by professional traders in our FREE options trading mini-course!
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Tuesday, May 1, 2007
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