Transcription of Paycheck - Iron Condor Checklist
1 2018 VectorVest, Inc. All Rights Condor Checklist Date _____ Ticker Symbol_____ Check When Complete Criteria MarketDirection iron Condors can be placed at any time as long as the individual stock/ETF/index meets the criteria below. StockSelection ADX < 20 for past 3 days ATR at lower end of range OptionsSelection Volatility shows options are Overpriced Anticipate overpriced indicator to remain flat or decrease When dealing with market ETFs/indexes such as SPY/SPX, theoverpriced condition is not a huge concern. Expiration Date 21-45 days away Earnings Date At least 14 days away Dividend Ex Date At least 21 days away Trade Set-Up Delta < .20 for the short strikes Delta on Short Call & Short Put should be close Overall Delta on trade: _____ Overall Delta on trade should not be over or under +/- Calls Puts Short Strike Price Delta Short Strike Price Delta Long Strike Price Open Int Long Strike Price Open Int Model Trade 1st Save Page in OptionsPro # of Contracts Max Risk Max Loss TradeManagement Desired Entry Price per share: What price will I enter with my broker to sell the Condor ?
2 Profit Target per share: (25% of credit received) What price will I buy back this Condor ? Prepare for Adjustments and/or Exit Adjustment: When Delta of Short Strike Changes by .20, close the profitable side of the trade sell another credit spread on that side that has Delta < 2018 VectorVest, Inc. All Rights : If short strike gets hit, close that side of the trade and manage the profitable side using credit spread techniques. Adjustment Delta (add 20 to original delta) Call: Put: About what price will the stock be when an adjustment needs to be made? (Halfway between entry price and short strike.) Call Side: Put Side: Exit Price (short strike) Call: Put: Order Entry Use limit order Good for Day Aim for midpoint Place order Post-OrderEntry Fill Price: Update fill price in OptionsPro saved page Enter order to close @ profit target using Good Til Canceled Post-TradeAnalysis Date entered: Date closed: Commissions/Fees: Net Profit/Loss: Is there anything I should have done differently?
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