Well Traders, we are coming down to the wire on my December Iron Condor and things are looking good so far. Most of the value in my trade is gone, and with only three full trading days left, and a full $57 points from my Bear Call, it would take some HUGE days to break this trade. That is never out of the realm of possibilities, but let's hope it doesn't happen here.As you will see from the chart above, the $NDX rallied up to the Ascending Channel support line, but was unable to break through...again. The previous support line is acting as resistance now and if it continues to do this for the next three days, my trade will be golden!
The Time Value left in this trade is down to next to nothing. The highest amount left on the board is $0.40 on my Bear Call. The others are $0.15, $0.10 and $0.00. Basically, I am at a point that if I get no serious run-up the next few days, I'll let the trade expire on Friday, and maximize the profits left over after the roll-out.
Time to start looking at January's trade.
Happy Trading!
No comments:
Post a Comment