No Adjustments

With the market opening +450 (corrected in update) and now up less than 300, I'm swamped with trading.

Just a note to those readers who are following our two open iron condor positions:  no adjustments were made in either the down market (it seems so long ago that the market was down, yet it was only 2 days ago) or the recent 900 point surge.

I'll update with details when I can. 

Update: (above numbers adjusted with update)

The November iron condor is offered at $3.80 and there is no reason to cover this one.  the options are still fairly far OTM and we have held this trade for three weeks.

The experimental (hoping to be able to close the position in two weeks) October iron condor has been endangered – first on the put side and now on the call side.  But, one week has passed, the position is losing money, but has not yet reached the danger zone (at least my danger zone – I assume each of you has his/her own comfort zone). 

This morning was frightening.  Bid/ask spreads were so wide that trading was almost impossible.  It's fortunate that we were not faced with what would have been a difficult trading situation – trying to close a position in the face of panic (upside panic this time).


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