OPENING: SPY JAN 18TH 244/247/272/275 IRON CONDOR

... for a 1.06/contract credit.

Max Profit: 106/contract
Max Loss: 194/contract
Break Evens: 245.94/273.06
Theta: 1.86
Delta: -1.75

Notes: Replacing an iron condor I closed earlier to keep my risk constant throughout the cycle and given this high volatility environment. It also has the effect of adding a smidge of short delta to my core position, which has turned slightly long in this down move. After the earlier closing and this opening: Scratch point for the core position is 10.52.
Beyond Technical AnalysisironcondoroptionsstrategiespremiumsellingSPDR S&P 500 ETF (SPY)

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