Dear OPN Subscribers,
pls check your e-mail as well as OPN section of the forum for the new trade that I opened y’day. I have closed one of the income trades for 14% returns already as earning annoucement is approaching.
Just to restate, our goal for June (5-7% monthly) is already achieved as portfolio is already up 11%. However, I am still continuing and will update accordignly as I still see upsides.
Profitable trading, OptionPundit
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Dear OP,
I had just came across your website and also wish to subscribe for the newsletter. But as I will be trading with a very small capital, will I still be able to setup a trade as what you mention if I need to take risk into consideration ?
Am I also too late to subscribe for the newsletter now since you mention you had already setup the trade now for this month ?
Do we need to setup the trade within a specific time frame ?
After going through most of your trades every month, I find that you are trading spreads specifically iron condors, but for me being new to this strategy, I’m not sure if I can setup this strategy if I’m trading with an IB trading A/C ?
Hope to hear from you
Thank You
Dear Weechong,
Thanks for your note.
Trading with small capital: Depends on how small is small. Currently I have 4 income trades and it requires roughly $6000 for all. One may multiply this to open as many. If the capital is small then that, you may choose to open 1-2 trades. Watch out – I generally suggest to keep at 30% of your capital free for any adjustments or new opportunity.
Are you late? No, I am about to open July trades in the coming week(s) or so depending on the market and IV. At any given month I will have trades for 2 months. And I don’t open more than 5 for a month.
Time frame – Yes. For instance RUT IC, generally one month of expiration. Trade may be placed for GTC but “fill” need to be mainitained.
Iron Condors – Pls read my intial write-ups on this here–
http://www.optionpundit.net/iron-condor/what-is-an-iron-condor01
http://www.optionpundit.net/iron-condor/what-is-an-iron-condor-part-2
And if you are new, I would strongly encourage to PAPER TRADE first. There is no hurry to get into real money.
You can trade in IB as well but pls check out the margin requirement at IB for Iron Codors.
Hope this helps.
Profitable trading.