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system
am i doing the math for this covered call/long put strategy correctly? what risks do i run with this strategy?
user
fyi: gm has an earnings announcement on april 24th. i think you were trying to create a safe trade by profiting if gm's price fell within a  probable range.  the chart of the iron condor captures just about a standard deviation of movement.  so as long as gm is between 31.28 - 37.22 in 34 days you keep the max profit of $110.  note this trade is a net credit, when placing it you get $110 less fees.  also by selling the deep in the money call i take it you were trying to make the most of your capital. the chart below shows a standard covered call compared to short put vertical.  note the short put vertical simulates the covered call position and it is a net credit trade as well.  when you drop the order you get $111 less fees.
assistant