Stock Symbol: [private_monthly]SPX[/private_monthly]
Price at time of Trade Open: $1100.34
Target Date: September 17th - September options expiration
Target Price: 1040 to 1115
Current Price: $1125
Option Strategy: Iron Condor with September expiration options
Reasoning: With the S&P over our high target of $1115 and threatening to close higher than $1135 by option expiration Friday, let's close the call side of the trade here. We can leave the put side of the trade in place as there is no way the SPX will pull back to near 1020 by this Friday . We'll take a bit of a loss here but better safe than sorry.
Trade Details:[private_monthly]
BTC -2 SPX SEP10 1135 CALL @ $2.35 ($470)
STC 2 SPX SEP10 1140 CALL @ $1.50 $330
Trade at Market for approximately $0.85 for a net debit of $140
[/private_monthly]
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