Well well well, here we are at the time of the month where I typically put on an Iron Condor or two… Well – with the current market position, I’m just not all that comfy putting the whole condor on today. I’m not comfortable with the recent trends up, and don’t want to take the downside risk on the Bull Put spread, so here is my trade… I’m putting out orders for November 810/820 RUT Bear Call Spreads at a $.60 credit. It’s only 6%, but it’s 6% that I am comfortable with; and November 1430/1440 SPX Bear Call Spreads at a $0.50 credit… If the market pulls back (which I expect) I will enter a Bull Put Spread order if the opportunity presents itself….

Categories: Options Trading, Papermoney