The roller-coaster ride continues; who will win this battle?
The trading week ended Friday with a whimper after another volatile day. SPX closed down less than one point at 1931 or .-06%. The benchmark index posted a weekly loss of -1.4%.
SPX 6 month chart:
VIX 6 month chart:
The VIX crept up just ever so slightly this week; it closed Friday at 23.62. The "fear" index is still above the historical average of 20.
If the market is within reason and we can still get the minimum credit for acceptable strikes, we are planning to enter an SPX weekly Iron Condor Monday for the October 1 cycle. Trade recommendation will be posted Monday if all is "a go".
With no open positions on this weekend, I thought I would share the annual results for the Couch Potato Trader plays for 2015. I'm pleased with the overall results, and look forward to the continuing success for the rest of this year and beyond. The results are broken down by the three trade categories we trade:
1) SPX Weekly Iron Condor
SPX Weekly Iron Condor Results:
2) SPY Monthly Iron Condor
SPY Monthly Iron Condor Results:
3) RUT Monthly Iron Butterfly
RUT Monthly Iron Condor Results:
We will continue to trade the plan and keep tight reigns on our risk management. Please don't hesitate to email me if there are any specific questions on the results or the trades. The guidelines for the Couch Potato Trader plays were most recently published on August 20, 2015, and can be found at this link:
Link to Articles
Next week's economic news is sprinkled with a variety of Fed speakers, and culminated by the monthly employment situation report on Friday. A summary is below:
8:30 am Personal Income & Outlays
10:00 am Pending Home Sales Index
10:30 am Dallas Fed Manufacturing Index
1:30 pm Fed Charles Evans speaks
9:00 am S & P Case Shiller HPI
10:00 am Consumer Confidence
8:15 am ADP Employment Report
9:45 am Chicago PMI Index
10:30 am EIA Petroleum Status Report
2:00 pm Fed Chair Janet Yellen speaks
8:30 am Jobless Claims
9:45 am PMI Manufacturing Index
10:00 am ISM Manufacturing Index
2:30 pm Fed John Williams speaks
8:30 am Non Farms Payroll Report
8:30 am Fed Eric Rosengren speaks
9:00 am Fed Narayana Kocherlakota speaks
10:00 am Factory Orders
11:00 am Fed Loretta Mester speaks
12:00 pm Fed Stanley Fischer speaks
1:00 pm Fed James Bullard speaks
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,