ADJUST: UAUA BLPS to Iron Condor

On 2/7/08 , Entrered-UAUA Bull Put Spread (BLPS), I sold Mar 30 put & Bought Mar 25 put for credit of 0.85.

Today we added a bear call spread to hedge ourselves by selling the Mar 40 call for $1.17 and buying the Mar 45 Call for $0.40 giving me a total credit of $0.77. Here we have essentially created an iron condor. This gives you an extra credit and helps reduce the risk of a single vertical going against you.

0.85 (original credit) + 0.77 (today's credit)= $1.62 credit