Close SMH Trade
October 4, 2022
Our last remaining open SMH laddered iron condor (14 Oct) has bounced back enough with the market for us to close it around break-even. The stocks have enjoyed two up-days in a row and we can’t be sure of getting a third day of positive stock market action. Let’s close this position.
Depending on your fill prices, we have a credit of around 4.20 to 4.30 from our 3 adjustments and we can close it today for a debit of 4.25 to 4.30 … a scratch trade.
Vaneck Semiconductor ETF (SMH): 199.33
TRADE ACTION: CLOSE the SMH 14 Oct 200 put / 205 put / 205 call /210 call for a net debit of around 4.27
STC the SMH 14 Oct 200 put
BTC the SMH 14 Oct 205 put
BTC the SMH 14 Oct 205 call
STC the SMH 14 Oct 210 call
The 50K Portfolio is trading 3 contracts; the 10K Portfolio is trading 1 contract.