So far our two open trades are working their way towards target.

Below is the current status of the two positions:

1) SPX August1 Put Credit Spread:

SPX August 1 Put Credit Spread as of the close Friday:

The position is currently +$65, just shy of the target. I was not at my desk at the close Friday; I most likely would have tried to get the position closed for the debit of .25. My order is in to close the spread for .20, which will net $66 after round trip commissions. This gain if achieved will represent 7.3% of actual margin.

2) SPX August 1 Iron Condor:

SPX August 1 Iron Condor as of the close Friday:

The position is currently +$25. Target gain remains at $105. The current closing order is in for .30, which will net $102 after commissions, just shy of target gain. Again, some traders may choose to exit the position earlier and accept a slightly less gain. For example, to buy back either side for .20, or .40 for the whole position, would still net $92 after commissions, a 10.7% gain on actual margin.

An update will be posted early next week. Please keep in mind that next week the FOMC takes the stage again; they begin their quarterly meeting Tuesday and conclude Wednesday with an announcement at 2 pm Est. It is recommended that these two open positions be closed prior to the announcement, if they have not already been closed.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin