Close SMH 30 Sep Trade
September 29, 2022
We can close our adjusted SMH 30 Sep Iron Condor for a profit. Let’s take it off the table now as the market is selling off again today.
Vaneck Semiconductor ETF (SMH): 187.83
TRADE ACTION: CLOSE the SMH 30 Sep 180P/185Put and 30 Sep 195C/200 call for a net debit of around 1.25 – 1.30
STC the SMH 30 Sep 180 put
BTC the SMH 30 Sep 185 put
BTC the SMH 30 Sep 195 call
STC the SMH 30 Sep 200 call
We collected 1.07 credit at the open plus another 1.15 to 1.20 on the adjustment earlier this week … we have about 2.27 in credit less 1.30 debit = 0.97 of profit or $97 per contract (depending on your fill prices).
The 50K Portfolio is trading 3 contracts; the 10K portfolio is trading 1 contract.