New Weekly Iron Condor, Patience With New Monthly Positions

We used today's flatish open to attempt a March30 SPX Bear Call Credit Spread for the Weekly Trading Service but no fills executed. As the market worsened through the trading session we canceled the March30 SPX Bear Call Credit Spread and replaced it with a March30 SPX Iron Condor. Most everyone filled the trade and today's close sets the trade up nicely going into the end of the week.

We are being patient in releasing new Monthly Trading Service positions for April as over 3 weeks still remain until expiration (April is a 5 week expiration cycle). The recent market weakness sets up for a nice run higher into end of week/month/quarter this week and/or beginning of month/quarter buying next week. We will use the anticipated strength over the next few days, and potentially next week, to open our new April positions. Be patient and don't worry about missing a trade as this market has punished trade chasing for the last few months.

Our existing Monthly Trading Service RUT position is still very comfortably out of the money and we are very happy holding it here.

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New Weekly Iron Condor, Patience With New Monthly Positions