"Trades don't make money when you open them, they make money when you close them."Well Traders, I don't know who came up with that quote, but it is somewhat fitting. Without being too brash, and with still time on the clock, my March Iron Condor seems to be pretty safe at this point. I am $94 points to my bottom Bull Put spread, and $156 points to my upper Bear Call spread. Barring a complete meltdown a la last week, I should be able to let all my contracts expire next Friday morning (and save on commissions) and close the trade for Max Profit!
It has been a pretty sweet run in the $NDX as the index has performed beautifully for me with its neutral flow. This month has had its moments of uncertainty, but I held fast to my rules and my support and resisatance levels and things seemed to have turned out okay.
Soon I will be trying out a new Iron Condor strategy by paper trading it, but I will still keep you advised on how it works, and probably make a few mistakes along the way. All part of the learning process. Anyway, enjoy your Friday and your weekend, and unless something significant happens tomorrow, I'll catch you on the other side of the weekend.
Happy Trading!
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