Rolling the ADBE Iron Condor

I am rolling the ADBE Iron Condor to February and tightening the put side wing. This adjustment reduces the position risk by collecting additional credit and by reducing the maximum possible loss. There is already no risk to the upside as the credit exceeds the width of the call spread.

  • Bought ADBE 01/15/21 Put 500.00 @ 11.12
  • Bought ADBE 02/19/21 Put 480.00 @ 13.33
  • Sold ADBE 01/15/21 Put 475.00 @ 3.52
  • Sold ADBE 02/19/21 Put 500.00 @ 21.38
  • Sold ADBE 02/19/21 Call 510.00 @ 19.29
  • Bought ADBE 02/19/21 Call 515.00 @ 17.20
  • Bought ADBE 01/15/21 Call 510.00 @ 8.85
  • Sold ADBE 01/15/21 Call 515.00 @ 7.02

An additional 0.71 was collected by making this adjustment. The new position is

ADBE Feb 480P/-500P/-510C/515C for a credit of 8.29.

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