My Iron Condor

SPY Iron Condor
Here is the Option Trade for this month.
Analysis of SPY:
It broke above 50 day MA
100 day MA could act as support. This is also in general vicinity of chart support
The TAPP target per AGET is 131.85 by end March
Looking at following IC
125/132 IC for credit of $25.
Max risk = $75
Max Profit (Less commission) = $25-(4 * 1.5+2*1.5) = $16
Max Return: 21.33%

SPX IC
Similar Analysis
I am looking at 125/131 IC
BE: 124.65 (just above 100d MA) and 131.34 (2% above CMP)
Note that previous high at 1294.9 could be a resistance
Max Risk: $65
Max Profit: $35 (less commsission $9) = $26
% Return: 26/65=40%

What if the bull run continues:
I will exit the Bear Call Spread portion when the stock trades twice above 131.2 to atleast cover my commission.

Trader R

Trade to make money!!!