Monday, March 9, 2009

NDX Condor 3-9

I promised a few days ago to post a RUT condor for the APR expiration, but I changed my mind.  Looking at the charts it seems that the NDX is much better behaved, so I decided to track that trade this month.  Of course anything can happen, but it seemed like the right thing to do.  Here is the graphic of the starting trade. 

As it turns out, today was a nice down day which put this trade dead center.  I like the spread in the short strikes, with more than 200 points away in both directions.  That's 20% in either direction, which is a monster move, even in the NDX.  As I say, anything can happen but I like this trade.  I received $2.90 in credit on the 1300/1275/800/775 condor.
Good Trading...

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