SPX Weekly Iron Condor Year to Date Results
The last two weeks have been difficult for the weekly SPX Iron Condor; day to day volatility and market "whipsaw" caused us to be stopped out of both the November 4 and December 1 positions. It's never easy to accept losses for two consecutive weeks, especially when the market reverses the next day. However, having a tight risk management plan in place removes the potential of a bad trade going even further against you, reducing the possibility of being able to achieve annual goals set up in your trade plan.
I felt it was worthwhile to post the year-to-date results for the weekly Iron Condor. Despite the last two losing weeks, the average gain since we included the strategy in the trade plan is still 3 percent per week for the 21 weeks it has been traded.
These results are outlined in the spreadsheet below:
SPX Weekly Iron Condor Results:
There are three weekly cycles remaining in the year. I have decided rather than to risk damaging what I feel is a very respectable gain in the weekly Iron Condor portfolio, I will sit on the sidelines for any new weekly trades until after the first of the year. As we move closer to the Holiday, volume will decrease, which can often cause more volatility and reaction to economic news, geopolitical issues, etc.
We will continue to manage the two monthly December positions on RUT and SPY, and will be entering the same two trades for the January cycle in the next few weeks.
As always, stay keen on your risk management and trade carefully,