This update will be short and sweet. I came down with something on Wednesday and it knocked me out clean into Friday. In non-personal news, the market seems to be finding it’s level again, but things have been a little choppy.
This week I opened another Iron Condor. This time its in the SPDR S&P Biotech ETF (XBI). On Monday morning it had an Implied Volatility ranking around 70 which means premium is expensive. What this means to me is that it was a good time to sell. I put in an order to open the Iron Condor Monday morning before the market opened and by mid-morning I was in the position. I received $35 credit and the expiration date is 3/20. XBI was around 91 when I put in the order. My two strike prices for the Iron Condor are at $80 and $97.
My Iron Condor in EEM is still trucking along. At the moment I’m at a loss in both EEM and XBI, but as always time and statistics are on my side.
I’m adding a new segment to my weekly updates that I’d like to call . . .
|EEM||Iron Condor (Exp: 2/21, 43-48 Strike)||-$5.00 (-23.81%)|
|XBI||Iron Condor (Exp: 3/20, 80-97 Strike)||-$16.00 (-45.71%)|
|F||3 Shares||-$2.04 (-7.73%)|
|DOGE||2235 Shares||+$1.77 (+39.75%)|