It should go without saying, but it usually doesn’t, so we’ll say it:
if the market drops 4% and your portfolio value drops 0%, guess what?
You just outperformed the market by 4%, congratulations! If the market
drops and your portfolio value goes
up, double congratulations! By that metric, we should be popping the champagne open this month, were we not so humble.
We did have a losing trade this month, the DIA position, which lost
6.3%. But our two SPY positions gained 26.9% and 12.8%, giving us an
average this month of
11.1% per trade. These were fairly straightforward trades and didn’t require any intra-cycle adjustment.
To read the rest of our monthly review, visit our
iron condor trading blog...