Well Traders, I have entered my March Iron Condor today. I debated last week whether or not I should be more aggressive and play a tighter spread but I am not yet comfortable being that risky...I may never be. In this case, my best bet may always be "slow and steady wins the race."My February play is sitting pretty with only 11 days left. It looks like my buddy Max Profit may be paying me a visit a week from Friday...and he is ALWAYS a welcome friend!
For March, since I sense a bit of neutrality in the index, I played a slightly tighter spread than last time. This play will be worth $4 if it expires in March, which is about 25% better than February's play. As you will see on my chart, I have made the new notations.
For March, I am playing the same 1900/1925 Bear Call, but moved my Bull Put up to 1650/1625 from 1625/1600. A little more risk, but I felt with the way the market has been stagnating, and with some good support levels to protect me, it was worth the risk. We'll see how well I called it over the next few weeks.
Happy Trading!
No comments:
Post a Comment