Well its the last week of the March option cycle, and I’ve got a couple of nice fat cushions on each of my positions. This morning the market opened up, as I write this is the SPX is up 5.53 and the RUT is up 7.43; currently they sit as 1287 and 733 respectively. And that’s just fine with me!
My two positions this month both have a nice 40+ point cushion on the top.
- The RUT position is a 660/670 780/790 Iron Condor
- The SPX position is an 1175/1190 1340/1355 Iron Condor
I’ve started to look for early exit points on each of these trades and will pull the trigger if the market continues to shoot up this week. The end of last week marks the beginning of a possible rally in the market, however I don’t think it quite has the steam it needs to be successful. While it was a nice 100 point pop for the DOW, volume was very light and there wasn’t any bad news.
Expiration week is always an exciting time, it’s a time to keep your eyes peeled and your ears to the ground. The settlements on Friday will determine the profitability of these trades, so the momentum going into those days will be critical.
Tags: exit strategy,expiration,rut,spx
Categories: Options Trading
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