Tuesday, 28 November 2017

New Position: ODAX January 2018 Iron Condor


For the first 2018 position and I have decided to go for a January 13600/1400 - 12300/11900 Iron Condor plus a February 13400/13450 Debit Call Spread.

DAX 30 on November 28th 2017. Source Investing
52 days to go and an Implicit Volatility of around 14%. Given the relatively low IV and the underlying bullish trend, which has given me so much pain before, I also opened a Debit Call Spread for the February expiration cycle. This second spread should help me resisting another increase in the underlying and will allow me to postpone any necessary adjustment.

Tuesday, 21 November 2017

Closed: ODAX December 2017 Put Spread


Today, after less than one week and a 300 points bounce up by the DAX, I was able to close the position locking around 70% of the profit.

DAX 30 on November 21st 2017. Source Investing
I could have waited three more weeks to get those final 32€, but I decided to close the trade and move on in order to reduce risk. Perhaps, in the coming weeks we reach another good condition for another put spread in January, or even an Iron Condor.

Wednesday, 15 November 2017

New position: ODAX Dec 2017 Credit Put Spread


This morning, after about 5% decline in ten days or so and the IV (Implicit volatility) at 16, I opened a 12200 - 11800 Credit Put Spread aiming for the December expiration cycle.

DAX on November 15th 2017. Source Investing
Only 30 days until expiration and not too much delta, so the credit received is rather small. I´m betting on some sideways action on the former 12800-12900 resistance level.

Wednesday, 1 November 2017

Closed: Nov 2017 Iron Condor + Dec Debit Spreads


Finally, after yet another break upwards, I closed the November 2017 Iron Condor to a full loss. Additionally, I closed the November "auxiliary" debit spreads for a tiny win.

DAX on November 1st 2017. Source Investing
All in all, all 2017 gains in my account were wiped out, while the index in gaining more than 16%. Some thoughts on this below.