Please note that I have added a new tab about Income-Option-Trades to the InOutSignal Blog. You will find information there about Iron Condor and Calendar Spread trades, together with a performance chart. I will also post more details on some of these trades here in the blog. Here's the first one:
New income trade Wednesday Apr 9, 2014:
Sold new Benklifa type monthly May14 SPX Iron Condor with 36 days left.
Benklifa type IC: 25 points wide wings (need to be at 0-25-50-100 strikes), 200 points wide, Call delta 15, Put delta 12
SOLD -2 IRON CONDOR SPX 100 MAY 14 1925/1950/1750/1725 CALL/PUT @4.30 CBOE
Although markets are up yesterday and vol down, I got filled for 4.30 selling the above mIC, which is a better fill than some ICs that I had sold earlier (at higher vol). Best thing that can happen to this type of IC is that the price moves away for a few days and then returns to the middle of the Condor. That's the point to take partial profits .... even if it is only a small portion of the total credit received. The idea is to be in the market as short as possible and to take advantage of the theta decay during this round-trip move. The SPX is just in the middle of 1900 - 1840 range, so chanced are good for such a round-trip move, we will see. More soon in the updates or at http://inoutsignal.blogspot.de/p/inoutoptions2.html
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