One example of a Short Calendar Iron Condor Spread :
For those wondering why/how I’m managing all the VXX trades here is an example of one:
+1 Aug 21 2020 85.00 C
-1 Jun 19 2020 45.00 C
-1 Jun 19 2020 33.00 P
+1 Jan 15 2021 13.00 P
They are charging the $4000 call spread requirement but $0 on the put spread.
Given the recent (last 4 days) of trading in VXX, both the shorts are likely to expire.
If not, if VXX advances I would roll the 45 out and up, if it declines, I will roll the put out and down. If it stays near the centerline, I would likely roll laterally for additional premium for next week. But no action is likely until after 2pm Friday to allow all the time value to leach away from this week’s short options.