Condor Options

Now all we’re left with is our initial trade in this series, which we’re closing with the following order:

Day limit order
Buy to close 2 JNJ Dec 65 calls
Sell to close 2 JNJ Jan 65 calls
Buy to close 2 JNJ Dec 62.5 puts
Sell to close 2 JNJ Jan 62.5 puts
for a net credit of $0.88 or better.

This order flattens out our last open calendar position, leaving us with a handful of Dec 57.5 puts that probably will expire worthless. If JNJ takes a big dive tomorrow and we see a bid under those puts, we’ll post a trade alert to capture any value they may have.

And note, again, that Supplemental Trades are not autotraded, and that anyone who did not participate in this series of Supplemental Trades would not place the above order.