alternative to iron condor??

[daveyc]

hello, just wanted to get some opinions to this sort of trade as an alternative to a standard iron condor. thanks

dave

hopefully the pictures shows


anyways, here is the trade on SPX for MAY (mid 9.05 credit)

PUTS
+4 1225
-13 1200
+9 1175

CALLS
-5 1400
+7 1425

 

[jkgraham]

Thanks to brownsfan019 I learned how to post pictures:

Go to http://tinypic.com/
Upload your picture
Copy the code under "IMG Code for Forums & Message Boards" Paste the IMG code into your message.

 

[daveyc]

thanks jkgraham!

lets try again...........
http://tinypic.com/r/bgsolz/7

 

[jkgraham]

For some reason I'm getting a loss of -900 in the middle. I must have different prices for some of the options.
All of these would have to entered as single orders so getting completely filled may be an issue.

 

[daveyc]

oh well, the prices are fluctuating as i look at them also, jkgraham. and i didn't set the 'prob date' to may.

but in general, this appears to be a bit safer than a standard iron condor set up with just looking at the trade as a whole. there is the benefit of having a couple of extra long calls and a put debit spread that could be sold at some point.