Well, May was another profitable month! Both positions that I had running were 100% profitable. The SPX settlement is out at 1264.71, a full 9.71 points higher that I needed it to be. Had the market continued downward yesterday I would have been closed out early, taking in only a small profit. Instead, I was able to get the full return of about 13% on the SPX trade.

I’ve placed a few orders for June positions and have yet to receive a fill. If they get filled, I’ll post the details, otherwise I’ll look for similar positions next week. There is a little bit of premium that can be “sucked out” of the market by getting the fill on Friday, but it’s not the end of the world if you don’t get it.

I’m looking at continuing the SPX and RUT positions into June. Both indices have been moving dramatically over the past few months, so I’m going to be a bit more cautious this month and likely take in a bit of a smaller profit. I will also be looking to leg into my positions this month by selling the Verticals one at a time. The risk is that I won’t get the full Condor, but that’s okay! If I can’t find a position that I am happy with on the top or bottom, I’d rather not put it on. The benefit is that you can get a huge wingspan if the market starts to move dramatically. If I were to sell a Bull Put spread today, and then the market shot up like rocket, I could sell a much higher Bear Call spread after the move than I could today.

Enjoy your weekend, trade smart and grab my feed

Categories: Options Trading