Last week was a great play. The S&P500 at its SPYDER barely moved for 3 weeks. What a great opportunity for Iron Condors. We reaped in on the option decay.
Before that Friday we had little hickups but hey we made it.
We closed a Spyder position since it hit 30%. This trade was 2 weeks in the oven and cooking well. We always take it out when the heat goes to 30%
SPY 04 Jun 2021 445.00C/465.00C/390.00P/370.00P Iron condor
And we opened another one with the Qs
QQQ 18 Jun 2021 365.00C/375.00C/310.00P/300.00P Iron condor
On Friday the market rallied a little and this was good enough for us to close two more positions!!!
QQQ 04 Jun 2021 365.00C/385.00C/315.00P/295.00P Iron condor
IWM 18 Jun 2021 245.00C/255.00C/200.00P/190.00P Iron condor
The IWM was only on since three days and grew rapidly. We had a $13.00 P/L per day per contract. Usually these numbers are about $5.00 - $8.00!
Three positions matured during this week. This was phenomenal! Let us see the coming week. It is almost Monday.
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