Friday, December 19, 2014

CL Iron Condor

Thinking about selling an iron condor in the front month /CL options.

The logic: big, sweeping moves, bottom pickers kept getting clipped, week after week, almost day after day. Starting to think there will be a balancing range around $55 level. The only concern with the futures options is the length of the expiry, 26 days. May have to look at weekly USO options to consider an alternate, less risky strategy.

A view of the range (in pink) of the breakeven.
The trade:
SELL 3 Feb. 59.00 Calls,
BUY 3 Feb. 59.50 Calls,
SELL 3 Feb. 54.00 Puts,
BUY 3 Feb. 53.50 Puts,

Net credit of $.35.

View of the trade risk/reward:

Thursday, August 21, 2014

August 21 Trade setups

 1.) Canadian Dollar looking like a perfect descending triangle pattern setting up.
Short BO below 9096.
OR keep an eye on potential TL resistance on 1hr.
2.) DX - or UUP ETF short possible if move over extended. Will await Yellen @ J-Hole.
3.) Corn (ZC) straddle? Dec. 370 cost $30.875 (may bid lower) $1537.50 per lot, b/e areas 400/339 (typo on chart image, not 400 Stradd.)
4.) Gasoline possible breaking out for a retrace? RB futures or UGA ETF.
5.) This is going to take a while to develop. TF Russell Futures in a big box. Watching for move out of rectangle.