It’s that time of the month again… I’m out hunting for positions. The market looks pretty choppy, the quick run-up at the beginning of this month and the recent hammerings of the past few days have me thinking its time to find a few good ones. Here is what I was able to do today.
- Feb 2006 RUT 630/640 750/760 Iron Condor
- Bought 630 Put & Sold 640 Put
- Sold 750 Call & Bought 760 Call
- Opened: Sold on 1/20/2006 for $0.75 Credit
- Reason: The market looks pretty choppy. I don’t think we are moving to quickly up or down and the return is pretty nice for such a short time frame.
And another one
- Mar 2006 SPX 1175/1190 Put Spread; eventually an Iron Condor
- Bought 1175 Put & Sold 1190 Put
- Opened: Sold on 1/20/2006 for $1.20 Credit
- Reason: Again, the market looks choppy. I don’t the SPX has any chance of hitting 1190 before March. The recent swings have added a bit of premium so its looking good.
- I will be keeping an eye out for the top part of this future Iron Condor.
We will see how things turn out? I’m pretty optimistic.
Comments on this entry are closed.