Beside managing QQQ and the SPY Iron Condor, TSM naked Call and GM, I sold another Iron Condor from IWM.
What is IWM? I dont really know. A RUSSELL 2000 ETF. IWM is like a VIN number. Do I really care color, make and model of the car? No. It is just a VIN number, the subject /underlaying of an insurance contract. Every car insurance company writes down your VIN number and let you sign the contract.
I do the same. I sell insurance contracts against stock value drops and lottery tickets for up movements. Both sides cost money, I write down the number: IWM. As before, it is boring and always the same. Do your distribution bell and determine your Standard Deviation entry Points. Sell it, manage it, buy it back for less or let it expire, rinse and repeat.
What happens when your insurance expires? The insurance company keeps the premium. So do I. But when I get a good deal I give it to someone else earlier.
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