Options Trading Diary

As of 07/01/08 Diary is now exclusively following the Iron Clad Options Network's (IcON) Trading Strategy. IcON trades exclusively in market neutral Iron Condors on the Russell 2000 Index (RUT). Strategy aims to return 5-12% on capital every 4-6 weeks. Accounting for 1 or 2 difficult months per year, strategy intends to return 50-80+% annually.

Wednesday, July 16, 2008

Update 7/16

Strong market bounce today, we have nice cushion on all of our remaining Bull Put Spreads to get us through Thursday and market open Friday. Hopefully there won't be too much follow through to the upside, as we opened those 710/700 Bear Call spreads to complete our Condors. We'll watch them closely throughout the day. Be prepared to take action, rolling them into August if necessary.

We will be opening new "Catastrophic Coverage" puts before close on friday as well, to cover our tails.

posted by Jerome @ 4:21 PM

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