19/Jan/2017 Trades:
SOLD -1 IRON CONDOR NVDA 100 17 MAR 17 135/145/80/70 CALL/PUT @1.12
IV=48%
SOLD -1 IRON CONDOR GDXJ 100 17 FEB 17 43/45/31/29 CALL/PUT @.38
IV=52%
SOLD -1 IRON CONDOR TSLA 100 17 MAR 17 290/300/190/180 CALL/PUT @1.20
IV=40%
Netliq=6418$
Options BP=1018$
19/1/2017 BOT +1 IRON CONDOR NFLX 100 17 FEB 17 160/170/100/90 CALL/PUT @.23
Open Positions in M,MOS,NFLX,NVDA,WDC,WYNN,YELP
Net Liq=6360$
Option BP=2815$
Cash Balance 6577$
I'm Betting that Yelp Volatility will drop or remain the same, while time decay will make the Iron Condor cheaper
13/1/2017 SELL -1 IRON CONDOR YELP 100 17 FEB 17 50/55/32/27 CALL/PUT @.60
Implied Volatility = 60%
Net Liq=6195$
Option BP=1689$
Cash Balance 6605$
I'm Betting that Volatility will drop or remain the same, while time decay will make the Iron Condor cheaper.
10/1/2017 No Trade
Net Liq=6081$
Option BP=2346$
Cash Balance 6550$
That's how I calculate: 18$ (NET)/Margin required or BP =18/200=9% per 43Days.
Will try to close position before expiry.
Will be happy with 2-3% per month.
I Agree that more expensive stocks are better.
Commission is 5$ for the 4 legs.
I aim at 90% OTM, to make 2-3% per month if possible, then I will see how this will go.
Will include NetLiq as well.
Thank you for your comment.