Update on Iron Candor 28 September 2017

Update on Iron Condor.
One would make profit in Iron Condor in case of low volatility but maximum gain possible if there is high volatility.

So one should able to manage the trades and risk in Iron Candor.

Loss in 28th September Iron Condor if not exited at support level is around Rs. 3000/- , if one would have exited at support, then it would have been a profitable trade.

NIFTY is at long term support line.
If it breaks further 30-40 points then exit Bank Iron Condor. Or else hold it.
Same is the case with Bank NIFTY (BN).
It is at long term support level also just about to complete 38.2% retracement level. So if global cues are positive on Monday BN would show sign of recovery. If it moves down towards 24300, exit Iron Condor at loss.

Alternatively.
Exit present Iron Condor and place an another one as below:

Sell 24600 CALL
Buy 24800 CALL
Sell 24100 PUT
Buy 23900 PUT

Maximum profit potential Rs 7000/- and Loss also could around Rs. 7000/-. But this is maximum loss and one need not wait till he/she achieves maximum loss!!
Exit rules are as below:
Stay in trade till maximum loss of this strategy is below Rs. 1500/-
Stay in trade till combined delta is less than +0.55.


Disclaimer: This blog is not responsible for your profit/loss.