Volatile Week for Markets, Quiet Trading For BookingAlpha

Despite the lack of of BookingAlpha trading action this week, it has been pretty busy for us. Lots of analysis and discussion but no pulled triggers for new trades. The volatility this week has kept us on the sidelines in keeping with a couple of our favorite motto's:

 

"When you don't know what trade to make don't make one at all",

and,

"Sometimes the best trade is not making one"

 

The volatility this week has chewed many traders but the approaching OpEx, Greek elections, increasing volatility (via VIX & VXX rising during days/times when the markets are in the green), Fed anticipation for next week, etc., has kept us at bay simply watching our current positions benefit from Theta (time decay). Our Weekly Service 1-point wide SPY Iron Condor and Monthly Service IWM Put Credit Spread and SPY & NDX/MNX Iron Condors are all decaying beautifully. None of the positions are threatened going into expiry this Friday; just the way we like it!

 

We have a potential XEO or IWM position to be released tomorrow in the Weekly Service but want to see how the market trades first. Jobless Claims & CPI are due out in the morning and could influence trading. We will not stretch to deploy an additional position in the Weekly Service as we are very happy with our expected profits on our SPY Iron Condor. However, if the right opportunity presents itself we will be ready to take advantage of it.

 

Thanks to you all and have a great day!!