MAR rut condor (+11%) $184

1/31/08
sold -2 iron condor RUT MAR 800/810/590/580 CALL/PUT @ 1.57 credit (mark 715.08)
800/810 verticle @1.02
590/580 verticle @0.55
770 & 650 are the 20 delta points to adjust at.
Plan:
80% plus probabilities going 45-55 days out. picking short strikes at approx. 7-10 deltas and setting adjustments at the 20 delta point or when loss equates to 1 or 1.5of cash flow. Plan to take half of the position off when points are triggered. If you take off all of the loosing position, wait 24 hours then place twice the number of contracts 1 more standard deviation from price and challenge the market to do it again!!
Profit plan: looking to take about 50-70% of total cash flow on these trades. Get out before expiration week.

2/14/08
BTC +1 Condor @.76 original sold for 1.57
realized gain for 1 contract + .81 or 9% ROR
Still holding 1 more contract on this condor, to take off at 12% return or btc condor at .55 (set my limit order at .55)

2/19/08
BTC +1 Condor @.54
realized gain for 1 contract +1.03 or 12%ror

Total return avg. .92 or 11% return