Wednesday, 14 February 2018

New position: ODAX April 2018 Iron Condor


After deploying the small Put Spread in March, I finally decided to go for an April 13100/13500 - 11100/10700 Iron Condor.
DAX 30 on February 14th 2018. Source Investing
This time I´m betting on a sideways market for some time after the recent selloff. With the relatively high IV I got some good distance for the short options, especially in the short Put. In the Call side is tighter but I hope that a further IV drop will make any adjustment cheaper.

Sunday, 11 February 2018

Closed: February 2018 Put Spread - Rolled to March


Big drop this week and bad timing anticipating a bounce upwards. I tried to close the trade on Thursday but the spreads were crazy wide, luckily on Friday morning a little bounce in the opening allowed me to close the spread at 35 delta.
DAX 30 on Feb 9th, at close. Source Investing
After that, I deployed another Put Spread in March, another 1000 points down (11.100-10.900) with only half the width (200 as opposed to 400 points).

Monday, 5 February 2018

New Position: ODAX February 2018 Put Spread


I have been in the sidelines during this month waiting for the rally to weaken and IV to increase, as I have had a couple of bad experiences selling Credit Call Spreads in that environment and selling Put Spreads seemed to be a bit suicidal too.

Now the correction is here, but it has arrived stronger that expected, both in Europe and USA, so I decided to go for a 12100 - 11700 Put Spread for February and not March.

DAX 30 on Feb 5th 2018. Source Investing

Next week, we should have better visibility on the size of the correction and I might dare opening another Put Spread in March.