Sept $MA Iron Condor For Possible 16% Return

9/18/12
Rolling these IC's up and out to October.  Net loss on this trade is $170 or $0.34 per lot.

Trade:
BTC MA Sept 12 405/400 bull put spreads for ($0.19-$0.12) x 100 x 5 lots = $35 debit vs. $280 credit = $245 profit
BTC MA Sept 12 455/460 bear call spreads for ($3.33-$1.76) x 100 x 5 lots = $785 debit vs. $155 credit = $630 loss


9/5/12
As planned, I'm moving up the put side of the condor today for net credit of $0.30 per lot.  Keeping the short strike under the 200-day moving average.  Trade currently has an 84% chance of success.

Trade:
BTC MA Sept 12 395/390 bull put spreads for ($1.02-$0.76) x 100 x 5 lots = $130 paid vs. $230 received = $100 profit
Sold MA Sept 12 405/400 bull put spreads for ($1.96-$1.40) x 100 x 5 lots = $280 credit received

8/27/12
Rolling down the call side of this condor for a net credit of $0.19 per lot.  Currently an 89% probability of max profit on this adjusted leg.  79% probability of the total condor.

Planning on moving up the put side too eventually.  Would like to go to 405 but the probability is too low at the moment.

Trade:
BTC MA Sept 12 465/470 bear call spreads for ($0.45-$0.33) x 100 x 5 lots = $60 paid vs. $175 received = $115 profit
Sold MA Sept 12 455/460 bear call spreads for ($0.95-$0.64) x 100 x 5 lots = $155 credit received

8/16/12
Mastercard (MA) has started the next leg up after its May selloff.  With this one I'm keeping the put strike right at the May lows, and below the 200-day moving average.  The call side is above the April highs, and both strikes are well outside the contracting Bollinger bands.

Currently a 90% probability of max profit on both legs of the trade.

Trade:
Sold MA Sept 12 395/390 bull put spreads for ($2.05-$1.59) x 100 x 5 lots = $230 credit received
Sold MA Sept 12 465/470 bear call spreads for ($1.38-$1.03) x 100 x 5 lots = $175 credit received