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“This is penrose dropsy come into the weekend of the summer solstice for 2009. Which which is also options expiration for june and let s get it into our iron. Options. Income service monthly review.
Our sp y position was a good position. We had 77 79 area on the downside to play with and this was just fine and on the upside. We had a ninety nine and 10. One area of safety for the for the bear call spread on the iron condor.
However. I did close this one out early and then the reason. Why is because because the market did move up if you remember late last week. Here it broke out of this 96 area level just for a little while and i decided hate.
I m just going to pull it out and and just avoid any possible danger in the position..
So i played it safe and i exited out for a scratch completely break even trade on down to on this side of the of the of the trade. So overall. This trade worked out really well and the bear call spread was a scratch and on the other side on the boat. Put.
We had plenty of room that expired. Worthless giving us a total return on this for seven and a half percent on on this sp y position. Because we entered into that bull put spread for 14 center. Credit.
And let s take a look at the qqq s and this one was a similar a similar vent here. Let s said. Let s back up a little bit here we entered into this trade a while back a couple weeks ago for a for a credit here on the 28 30s here on the down side and on the upside. We had a 39 and and 41 up in here same same thing that i did on the and esp.
Why to avoid any possible loss here as this part was looking to break 37 and we only had two points..
I took it off for a scratch trade again on the cues. So however if i didn t do that then we would have been completely alright and profitable. But you know at this point last week. If you remember you know it could have easily worked its way up.
But in fact it worked its way down so i played it safe i exited and this qqq. Position i got out for a total gain on that 458 two percent. So that was how it went on those and i wm. We had another trade there s a bad bad tick on that one hold on let me.
See. If i can go back a little bit okay well on the iwm. We had a a a fine trade on this one. We had all the way down to 39 and 41 on the downside and so on and on the upside.
We had 58 to 60 can t even see that on this unless it on this part of it probably way up here so 58 and 60..
This one was fine. We entered into this for 20 17. Credit. And this this one here returned to us a a total profit of of.
117 three. Sent so we had 113. Percent. On that one and that was great so that was our options trading for for the month and total return that we have for the overall month was a was a gain of eight point three seven percent for the month.
So that that was our iron condor and options income service for the month with those. And going forward. We are introducing new strategies not limited to credit spreads and iron condors. But also debit spreads such as a broken.
Which will offer a a a better risk to reward ratio better than iron condors and other credit spreads where the losses are usually much greater than the possible returns so debit spread strategies that i m working with will be able to give us a risk to reward ratio of about one to four so safe for any one hundred dollars. We put a position on four we have a potential for four hundred dollars and and i m always looking for for those kind of trades and those kind of trades are what will be included as as the complete options income service. Here going forward for the upcoming months. So that is a that s about it hope.
Everybody has a great day upcoming june and july and we will be entering into new trades starting possibly this next week. We just have to see how the market is and and work with the market on a on a day by day basis. My analysis on this sp. Why positioning and on the overall market is and the overall goal is five to ten percent return per month.
So thank ” ..
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