Quiet Trading During This Volatile Week, Weekly Iron Condor Expires for 13.6% Profit

Another volatile week for markets ended with a relief rally on Friday; the relief rally was on the heels nasty declines on Thursday. There was a lot of anticipation heading into this week around the outcome of the Greek elections and the Fed's scheduled statement.

The Greek elections concluded as expected with the pro-bailout party winning. The Fed left traders a little disappointed since they did launch, or really even mention, QE3. As a result, traders threw a tantrum on Thursday like a kid not getting what he/she wanted driving markets lower all-day.

We expected the action that the markets gave us this week: A relief rally after the Greek elections and into the Fed statement followed by some rolling over later in the week. The large down move Thursday was more than we expected but was welcome as it gave our positions even more breathing room.

Weekly Trading Service Expiring Trade This Week: 69/70/80/81 IWM Iron Condor expired for +13.6% in 8 days. This was on the heels of last week's expiring SPY Iron Condor for +9.89% in 7 days.

We go into the coming week 100% cash in the Weekly Trading Service and with only 1 Monthly Trading Service position scheduled for expiry on Friday 6/29 for an SPY Quarterly Iron Condor. The Monthly Service SPY position is in great shape heading into expiry and shouldn't require any adjustments. The July options cycle is a long one (5 weeks) so we have not been in any rush deploy new positions; we have plenty of time left in the cycle for our July trades. See you next week! Thanks to you all and have a great weekend!!