New trade for 4/26/2013 expiration

I opened our next trade today and decided to go with the 4/26 expiration which is an extra week longer than normal. This was due to the low returns for the strikes I wanted on the 4/19 expiration. The market is very tight right now and I expect there will probably be a volatile move within the next couple weeks on the S&P 500. Those are quite dangerous for these credit spreads so I will have to keep an eye on the market.

I sold 110 contracts of the SPX Apr4 13 1600/1610 1495/1485 Iron condor for $1.50 credit. This results in a potential $16,500 profit on $93,500 investment for 18 trading days which would be a 17.6% return.

The green bars below represent our strike prices and we need SPX to stay in between them. I could not get my chart to extend higher so I placed the top green line at the top of the chart, but our real line should be placed at the 1600 level.