On September 23, 2019, I made my first options trade on futures (FOP). Originally I wanted to sell a bearish call spread on ES, but just shortly I opened position, markets tanked and I opened another spread, this time a bull put. At the end, it formed a nice iron condor.
- Date: September 23, 2019
- Futures Price: $2,995
- SELL 1 ES SEP 23, 2970/2950 put bull @ 0.60
- SELL 1 ES SEP 23, 3005/3015 call bear @ 0.75
Premium: $135 Net Credit
Maximum Risk: $2,000 ($1,865)
Return: 6/75% (in 1 day)
Now, this was an interesting experience selling Emini futures or more precisely selling options on them. I learned a lot new today, like the commissions for selling FOP's are $3.5 with my current broker. As I had in total 4 positions opened for this trade it cost me $14. That's about 10% bite in my premiums.