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Posted by Martin February 27, 2015

Bull Put Spread against SPX expired for 6.38% profit

Although yesterday the trading looked dramatic, no actual drama has happened today and our SPX bull put spread we put out on Wednesday with strikes at 2080/2085 expired worthless for a full profit of a received credit (our subscribers and I realized 6.38% profit this week). If we will be able to maintain such profit Continue reading →

Posted by Martin February 12, 2015

SPX 2005/2010/2105/2110 Iron Condor in good shape to expire

This morning I opened a new trade – Iron Condor against the S&P 500 (SPX). My strikes are 2005/2010 puts and 2105/2110 calls. I collected $30 credit for this trade. Although there are still two days left until expiration the trade is in good shape to expire worthless. With Iron Condor you want the underlying Continue reading →

Posted by Martin December 10, 2014

Defending Iron Condor

The good news is, that with Iron Condor you can be wrong only once, not on both sides. But when one or the other leg goes bad what would you do to defend your position? Defending Iron Condor is the same as defending any credit spread, be it put or call spread. I opened an Continue reading →

Friday expiration tomorrow may bring nice profits

Am I getting it right already? I do not know. For almost three years I was profitable trading options and suddenly a backlash of last three months erased all my previous gains. I tried hard to stop bleeding but all trades were turning against me, one after another. That’s frustrating and I was desperate to Continue reading →

Posted by Martin November 28, 2014

Expiration Friday mostly flat

Expiration Friday mostly flat

The week looked good until last Thursday end of the trading. Markets were slightly up which was good for our options positions set to end this Friday. I had an Iron Condor against SPX set to expire today. It was 2105/2110 calls and 2030/2035 puts. Since the market ended at $2067.56, both legs of the Continue reading →

Closing bull put spread against SPX for 11.29% a week early

Closing bull put spread against SPX for 11.29% a week early

We had a bull put spread against SPX which today became worthless and we could close it early. The trade was originally remnants of an Iron Condor we put our on October 21, 2014. The trade didn’t go well originally as our call side 1955/1960 call spread was breached when markets continued their incredible recovery Continue reading →

Friday Weeklys Expiration SPX, GOOGL, NFLX

Friday Weeklys Expiration SPX, GOOGL, NFLX

Tomorrow is an expiration day for weekly options. We have a few trades which are set to expire tomorrow and most of them will do so. We had an Iron Condor against SPX, but our call side of the Condor got breached and we decided to move it away in time and converted it into Continue reading →

Last week call spread against SPX and put spread TWTR ended for a profit

Last week call spread against SPX and put spread TWTR ended for a profit

After losses I suffered a few weeks ago due to mistakes and greed overtrading my account it looks like I was able to stop the madness and turn the tables around once again. Sometimes it happens to traders that they wipe out their accounts. Of course, this wouldn’t happen to a dividend investor as that Continue reading →

New Trade – SPX Iron Condor

New Trade - SPX Iron Condor

As I described in my monthly report, I am slowly building my damaged account back up taking small trades and small income every week. Last week, I opened a few trades against SPX – one bear call spread, and two Iron Condors. All expired worthless and I could keep all premium I received. I will Continue reading →

My trades against SPX, TWTR, expired for full profit today, VMW got filled

My trades against SPX, TWTR, expired for full profit today, VMW got filled

During last week and the week before I opened a few new trades against SPX, TWTR, and VMW. All of the trades against SPX & TWTR expired today for a full profit. After losses I generated during September 2014 I had to go back down from the “heavens” of my pride and basically start over. Continue reading →