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Got it! Thanks for breaking it down for me.

Thank you ! If I understand correctly, it the 2480 strike no longer exists unless I do something about it. The (sold) 2475 strike is not covered. I've intentionally performed reverse / closing transactions to curtail a loss, but this scenario stumped me -- I guess because it was unintentional. I...

Sorry - I've gone back to edit and complete the question. It looks like I somehow deleted 1/2 of it before posting. Thanks!

Hello, I have been options trading on my own for several months. I have both a live and a simulated account with scottrade pro / interactive brokers. My live transactions tend to be iron condor in nature, and always in the safest territory possible (which decreases my earnings). I use the...