Our RUT and IWM Bull Put trades expired last week earning 4.2%. The market rose nearly everyday after these trades was filled in March. If we would have completed Iron Condor trades the Bear Call sides would have been closed early for a loss. Iron Condor trading works when markets are not moving in one direction.
With the market continuing to rise due to better than expected 1st quarter earnings we are going to continue trading on the Bull Put side in May. If this market is headed to 12,000 the call side will continue to be risky. Our new trade will be filled if the markets dip on Monday or Tuesday.
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