Update on Open Trades Expiring In October (19th)

With just 19 days remaining to expiration we need get all our Bull Put Trades filled. Last week only the RUT Bull Trade was filled. The NDX Index started rising on Monday and did not slow down until Friday. By then our Bull Put trades could not be filled using the minimum credits. I have emailed 2 NDX replacement trades this weekend and one new SPX 15 point Bull Put trade. Bull Put trades are the safest trades so far this month. It is going to be a challenge to complete Iron Condor trades on these 3 indexes if the market keeps rising and it is projected to keep rising. If we would have traded Bear Call trades last weekend we would possibly be adjusting them prior to expiration.

My trading plan requires that I only select safe and conservative spread trades that have a 95% or better chance of expiring. This is only possible with Bull Put trades this month because the market is to bullish to trade Bear Calls. I hope we see a reversal next week for 2 reasons: First, a one or two day drop will allow our 3 Bull Put Trades to be filled and second, the Bear Call spread trades will be safer and tradable. If we can complete an Iron Condor trade the return will double to 6% or 7%. My goal each month is to complete 3 Iron Condor trades, one for each index.

September Trades Expired on the 21st

All new trades and one roll trade expired worthless on Friday the 20th. I am very excited that our first 50 point NDX Iron Condor Trade expired worthless. This was a very safe and conservative trade requested by many subscribers who wanted very long distances between the short options and the index value. Of the 3 September roll trades we had to roll the SPX and NDX trades again to new NDX Bull Put trades expiring in October. These new roll trades are certain to expire worthless on Friday October 19th because the NDX 100 Index should achieve new highs for the year after all the 3d quarter earnings are reported from these tech companies. I really hope the market settles down now that the Fed has started lowing interest rates.

New trades expiring in October will be emailed on later today and on Sunday 9/23/07.

Update on Open Trades Expiring In September (20th)

With just 5 days remaining to expiration all filled trades are out of the money expect the Bear Call NDX Roll Trade which was closed and rolled to an October NDX 25 point spread last week. The 50 point NDX Iron Condor trade is very safe with short options 400 and 175 points away from the current index value. The SPX and NDX Bear Call trades will be monitored carefully next Tuesday. The market is expected to rise if the Fed increases rates by 50 basis points. If the increase is only 25 basis points the market could go lower due to investor disappointments. It will be another very volatile trading week with the market making wild swings based on the Feb decision.

New trades expiring in October will be emailed on Saturday 9/22/07 after these September trades expire on the 21st.

Update on Open Trades Expiring In September (20th)

With just 11 days remaining to expiration all filled trades are out of the money. The 50 point NDX Iron Condor trade is very safe with short options 358 and 217 points away from the current index value. I will continue to have a monthly 50 point NDX Iron Condor trade for those subscribers desiring a very safe and conservation trade with 200-300 point distances. The markets continue to be very volatile making my credit trading strategy very challenging so I must be extra conservative in choosing Bull Put and Bear Call options spreads to trade.

Update on Open Trades Expiring In September (20th)

With 20 days remaining to expiration all filled trades are out of the money. Our Bull Put trades are getting safer each week. I have never had short options over 300 points away with only 20 days remaining.

Those subscribers who have the 2000/2025 NDX Bear Call trade open will have to close and roll this trade to a new trade expiring in October. A new Trade Alert will be emailed this weekend detailing this adjusting trade. We will have to keep rolling this trade until it expires.

I am still researching RUT and SPX Bear Call spreads but the current market volatility makes these Call trades risky. This is another challenging month so I want to insure all trades are safe.