Trading Journal
6/19/15
The market is being very choppy which makes it a decent environment
to structure Iron condors. However, the rise in the /VX future and the change
in the futures curve away from contango is making me nervous. However, because
any particular direction is unclear to me, I butterflied off short SPX puts for
a credit that I was holding on to allowing me a risk free bearish trade with a “sweet
spot” area of 1975-2030. This trade will benefit from any downside move. As for
other positions, I am holding my pairs trade in EWZ and EWW which I am waiting
on, and I have a small position in TWTR looking for upside. I could imagine the
stock could easily have a quick upside move on a piece of news considering the
depressed price, and the options are cheap because of low volatility.
I do have a few investments primarily in oil. I do not have
any current thoughts on this besides the fact I am simply allowing the calls to
decay.
