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.

Categories: Options Trading