Monday, January 23, 2012

IWM Trade Update


  1. I'm taking a different approach - betting that the price action of the last 3 days and particularly today is suggesting a rejection of the $79 level. Also looks like there is a gap from 1/10 at around $75.50 which could fill if the market makes a little correction. Your trade is good though, nothing wrong with booking a profit and removing the risk.

  2. My market assumptions about this trade have not been correct so far so made an adjustment this afternoon - rolled the 69/71 put spread up to 74/76 for $0.21 credit. Total position is now the Iron Condor 74/76/79/81 with $1.16 credit received. Did 10 contracts, currently showing a loss of $43.76.