15 Jan update - made an adjustment to this iron condor yesterday with stock near 132. closed the put side for .38 profit and rolled the strikes down to 150/160. credit for 150/160 at $1.54.
adjusted iron condor for Feb14
115/120 calls
150/160 puts
adjusted credit received $2.87
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from 7Jan entry
added new $ROKU skewed iron condor Feb14 115/120 165/175 at 2.33 credit. wide bid/ask so went few cents above midpoint for fill. note 10wide on calls. 120puts 19delta, 165calls 22 delta 38days to opex, earnings are week after opex
doing a lot of trading on Roku since is IV is high. FEB14 is the last opex before earnings. I believe there is greater risk to the downside so for this skewed iron condor the put side is 5wide vs the call side at 10 wide. going 10 wide allows me to get more premium on the call spread
again looking to exit at 25-50% of max profit and/or near 21days left till opex. will be out of all ROKU iron condors (have several going) when earnings hit. I don't include earnings because the point of the exiting at 50%/21day guideline is that you get some time decay AND some IV contraction. including earnings will give you IV increase. so will have limited profits
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