Tuesday, March 13, 2018

Midweek update: SPX Friday -> Monday trade worked OK: now 2 for 3

The market backed off its flirtation with 2800, fortunately, so the Iron Condor I put on Friday did just what it's supposed to do at the close earlier today: expire worthless.



I didn't put on a Monday -> Wednesday one as I'd intended as I was running around on house sale duty until 11am PDT by which time the credit was only enough to return 5% or so and I just decided the risk wasn't worth the reward.

So the next trade is going to be Thursday: the almost-always-works NDX a.m. settlement trade is available again this week, for the first time since February.



Friday I'll try the SPX trade again for Monday's expiration, and then 3 more next week (all one lots) and by that point we will be getting an idea of its win frequency ...

1 comment:

  1. I have been doing the NDX for a while. I sold one yesterday for almost 50% of the risk and was delighted. Unfortunately, I was in a hurry so I broke my personal rule of triple-checking every order and didn't realize I had sold it for the wrong expiration. Luckily, I was able to get out for a small profit this morning. I miss the NDX weeklies. I will have to look into the SPX. I hadn't heard of that one before.

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