Rookie Here - I sold an Iron Condor in KERX 100 OCT 14 18/19/16/15 @.70 and it has now gone to 0.00. How do I buy back this position and take profits? I have offered up to .35 for it and no one will buy it. Is there are way to take profits at this point? What is my best course of action with 42 days till expiration?

I think you got some bad quotes. It is currently trading around $0.67. Gotta wait for some more theta decay Good luck.

Edit: One more thing. In the future, you can look at the individual options that make up the two credit spreads of your condor to determine appropriate pricing for the iron condor. Sometimes one of the options in a complex spread has no bid and that will screw up the pricing for the condor. Always check your individual components if something looks out of whack.

gfmatt 

I think you got some bad quotes. It is currently trading around $0.67. Gotta wait for some more theta decay Good luck. Edit: One more thing. In the future, you can look at the individual options that make up the two credit spreads of your condor to determine appropriate pricing for the iron condor. Sometimes one of the options in a complex spread has no bid and that will screw up the pricing for the condor. Always check your individual components if something looks out of whack.

As it turns out, trading was halted pending some news. It was stuck showing some nice profit but as soon as trading resumed, it went back to "normal". Rookie=Panic... Thanks for the response!

I am very new to all of this and I am trying to learn all that I can learn. Could the iron condor have been rolled;taking off some profit,rolled to a different expiration date. It appeared there was a lot of time left on the original,and I would think with an iron you have to show patience. I am new and this is really just a question with a statement. Thanks,I am out.