Quote from atticus:
1SD is 300 on NDX? For what duration? OptionHouse has no problem with any condor you'd like to build, but they may suggest a reasonable R/R rather than a 300-wide front-month condor. As in protecting the client from his own actions.
Quote from hefir:
Yes. My current NDX position is Feb 2500/2475/2175/2150 opened on 01/04 for 30 days with probability of 68.8%. The IV was 23.1%. The idea is of course to close it much earlier. For example, I was out of January positions by 12/22. Why do you think that I should be protected from this?
Considering high commissions, I am trying to construct a wide enough profit range to minimize the number of adjustments and get out of the position in 10 to 15 days. (I am beginning to accumulate positions at 50 days to expiration and trying to finish this process at 40.)Quote from atticus:
30d? Probability of expiring profitable? What credit did you receive?
Quote from hefir:
Considering high commissions, I am trying to construct a wide enough profit range to minimize the number of adjustments and get out of the position in 10 to 15 days. (I am beginning to accumulate positions at 50 days to expiration and trying to finish this process at 40.)
For the 300 point wide position I described in my previous post, the credit is $7.80 but I am normally satisfied with getting 1/3 to 1/2 of that, putting a buyback order around $5. For this specific trade, I should get around 10%.