Condor Options

Here’s how our open positions stand:

IWM March iron condor: opened for $0.57, current mark price at $0.19.
SPY March iron condor: opened for $0.60, current mark price at $0.49.
QQQQ March iron condor: opened for $0.41, current mark price at $0.44.
DIA March iron condor: opened for $0.44, current mark price at $0.52.

We will probably close out our IWM trade soon to lock in those profits – no sense waiting around for the last 0.19. The two latter trades were just opened last week – that’s why they’re slightly underwater. We are told that autotrading members were actually filled at 0.46 on the DIA trade, but we’re sticking with the lower official number, because we’re cool like that.

Our thoughts about the upcoming week are pretty straightforward: we’ve still a ways to go before we hit extremely oversold levels, so some more selling is likely.  We might take advantage of any genuine panic selling to look at a position for April expiration.