Not a bad week - recorded a very disciplined SPX play, exited with a profit. Learned a ton about Index options , settlement, trends and behavior.
SPX 12/4 exit trades.
I earned 150$ premium and closed the position at 78% profit.
For this week on Monday I placed an identical Iron Condor trade expiring Dec 11 for 1.55 credit.
I've written about concepts I learned this week, AM/PM settlement, Index trading deadlines, strategies to exit Condors etc.
I can read this over and over again and still look forward lol.
In other news, oil is bouncing around a bit, OPEC meeting resulted in nothing, the Arab producers are hurting, Yellen made some comments about an imminent rate hike. I've been trying to understand the relationship between TLT and a rate hike, and havent been able to solidify a formula.
TLT fell 3.5$ yesterday, yet today when a rate hike was all but guaranteed it rose, when everyone is saying treasuries will fall when rates increase. So who knows, I will need to read more.
New trades this week , I opened another Iron Condor for the same strikes expiring next week, lets see how it goes.
Net cash 3771.