Well, it has been quite some time since I have placed any trades. This year has been a hectic one with a new position in my company and many life changes.

I think the market is finally in a spot were I am comfortable putting my money on the line, as a result I threw out a few paper money positions. Today I opened the following two positions:

• RUT Jul 2007 760/750 890/900 Iron Condor
• Sold 25 Contracts for $ 2,475 Credit
• Risk ~ 15.5%

• SPX Jul 2007 1435/1430 1575/1580 Iron Condor
• Sold 25 Contracts for $ 2,425 Credit
• Risk ~ 8.7%

Both of them appear to be fairly conservative. The Russell position has the most upside risk and I’ll have to keep an eye out it. Currently the RUT is trading at around 830, with a high of 856.39. There is a possibility that it could break out to 890, I just don’t see it happening in the next 23 days.

Categories: Papermoney