April 2008 update on my SPI, DIA and RUT positions

With about a week to go until expiration it’s time to give an update on my current positions.

Papermoney

The papermoney positions for this month are in great shape! As I write this post on Sunday, the last trade on the DIA(90.15 +0.45) was at 123 and the SPY(93.47 +0.62) at 133. Those two quotes are basically the exact midpoint of my spreads. I couldn’t ask for a better position to be in! I’ll look to see if I can close these for next-to-nothing during the week, if possible I will. Otherwise, I will likely keep these on and let them expire worthless as the week closes out.

Personal Account

I posted a personal trade on the RUT(514.71 +9.68) a week or two ago as well. Right now, that spread is in great shape as well. The Russell 2000 is about 58 points above my high strike. I don’t expect the RUT(514.71 +9.68) to collapse by 9% next week, so I’m not to concerned here either. I will of course look to close it out for next-to-nothing if I can.

The market…

I’m not expecting much from the markets over the next few months. I still think that we are in for a nice up-tick towards the end of the year; however, in the next few months things will likely just chop along.

My strategy right now is to continue with business as usual. I’ll be laying down condors and spreads as I see fit. Ideally I’ll be able to continue making a nice profit margin each month as the market moves along. I will post my trades as they come along. Good luck in your trading, please do your research and monitor your positions closely! Trade smart.