FEB 08 SPY Condor (-17%loss)

12/28/07
Placed a high prob condor in the SPY with 49 days till expiration:
sold -3 verticle SPY FEB08 133/129 @ .33 (mark 147.46)
sold -3 verticle SPY FEB08 160/164 @ .26
total credit @ .59 x 300 = 177
total margin @3.41 x 300 = 1023

1/04/08
btc +3 verticle SPY FEB08 160/164 @ .04 (mark 141.96)
origianlly sold for .26
total 160/164 CALL credit realized = .22

sold -3 CALL verticle 151/155 @.67
also holding the -3 PUT verticle 133/129 @.33
new postion with a 1.00 credit and 3.00 margin requirement
Will not loose more than I can make on this trade = $300
placed a GTC stop order in for the PUT side, figure this out by taking the potential credit and realized credit taken in from the trade= 1.22credit +amount willing to loose .50 = 1.72 stop order

1/18/08
btc +3 vertical PUT 133/129 @1.72 (mark 131.51)
originally sold for 0.26
net loss debit = 1.46 for PUT
placed a GTC limit order for the 151/155 CALL vertical @0.05
assuming I get filled @.05 for the remaining CALL vertical, I will take a total loss of .62 per contract or $186 or 22% loss on margin

1/22/08
btc +3 vertical CALL 151/155 @.03
originally sold @ .67
total credit = .64
.57 total loss for postion or $171 (-17% loss)