Dear Members,
I am still in the SWY straddle. The implied volatility is rising as I had expected and the put side is currently profitable while the call side is in the red. Next week I expect earnings to be announced so I probably won't be in the whole play too much longer. So far, so good.
I tried to get into a bull put credit spread on the NDX, but the premiums didn't stay long enough to obtain the percentage return I wanted. I was trying to sell the put below two support levels and buy the next strike down as protection, but the spread price decreased before I could get filled.
The markets are still in a trading range. Option expiration is next Friday and after that expiration, I will be looking for volatility driven calendar spreads as long as we remain in the trading range.
We're visiting the Seattle area this week and early next and so far it isn't raining. Good trading and have a great weekend!!!
Bill
|
