Trending markets are not good friends of Income traders especially the markets that jumps in either direction too quickly. I had talked about Iron condor briefly here, that an iron condor works best when market remains in defined zones or continue sideways action. Few weeks back I opened a RUT iron condor that I shared with the OP readers here, this iron condor while still profitable, may soon be threatened on the call side. Put side has already given good amount of credit and is nearing my exit point.
As you may know, opening an Iron condor is not that difficult at all. The real fun lies in how does one adjust the trade. Seems like RUT is going to challenge, now that’s where serious money is involved, so let the fun begin.
Cheers and profitable trade, OptionPundit