On 3/13 I bought the (call diagonal) Apr 91 Call for $2.50 and Sold Mar 90 Call for $0.82.
Total debit of -$1.68.
On 3/19, I adjusted by buying back the Mar 90 & selling the Apr 90 call for a total credit of $1.35 now making this a vertical spread.
-1.68+1.35= -$0.33 cost basis
On 3/20, I converted the vertical to an iron condor by:
Sold BRCS Apr 87/90 call for a credit of $0.62.
Sold BLPS Apr 77/73 put for a credit of $1.12.
-0.33 cost + 0.62 credit + 1.12 credit= $1.41 total credit
New Risk= 4.00 spread-1.41 credit= $2.59
On 3/27, I added on the May 70 long calls to be delta neutral again, this was for a debit of $16.75.
16.75-1.41= $15.34 cost basis
On 3/28, I closed out the long call by selling the MAY 70 CALL for $14.75 credit.
15.34-14.75 = $0.59 cost basis
Today, on 3/31, I closed out the entire trade:
Bought APR 08 87/91 CALL @0.58 debit
Bought APR 08 77/73 PUT @0.70 debit
1.87/2.59 risk= 72.2% loss
So here's an example of how an iron condor can sneak up on you and take a bite out of your "you know what!"
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