In an effort to take their country back, the United Kingdom’s voters have sent a stinging message to the NWO that they want to take back control of their country! I believe it took a lot of courage and I am very proud of them. Congratulations!

6-24-2016 4-26-08 PM

It took me a while to get back to posting again after I blew my right knee out, but here I am. No, I haven’t thrown in the towel yet.

Since my last update, I Condorized my JUL RUT Bear call with a Bull Put and my short strikes are now at 1220 and 1045. Today’s closing price is just about smack in the middle at 1127 and a delta of 3.41, just about as close to delta neutral as you can get.

6-24-2016 4-27-31 PM

Last Friday, betting that the result of the Brexit vote would be Leave and a ‘shock’ to the markets, I bought a JAN17 Put on SPY at 205. I still think there is more room to the downside so I’ll hang on for now.

The same goes for my GLD long Call – more room for gold to move up.

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Next week should be interesting.

Thanks and Happy Trading




Market Update for May 26th, 2016

Read the full article → May 26, 2016

Not a lot going on this week. I did exit the JUL 970 Bull Put on RUT taking a bit more than 50% of the max gain available. Other than that, Mother Market continues to drift upwards while the VIX scrapes the bottom of the barrel. Now might be a good time to enter a […]


Market Update for May 20th, 2016

Read the full article → May 20, 2016

I might as well get this out right off the bat! Patience paid off and RUT dipped below my 1100 short Call Spread yesterday and I was able to buy it back for my $2.00 target! That brought me back to profitability, plus a few hundred, for the year. Premium decay is heavy just before […]


Market Update for Friday, May 13th, 2016

Read the full article → May 13, 2016

If you saw my blog post from yesterday, you will have known that I closed the Bull Put on RUT for a small profit, to eliminate downside risk. During today’s Market Update, I entered a GTC order to close the Bear Call on RUT in anticipation of a down move early next week. The price […]


RUT Iron Condor – May 12, 2016

Read the full article → May 12, 2016

This is a quick post to let you know that I closed the Put leg of my May Iron Condor on RUT. I did that to eliminate any downside risk on RUT for what I anticipate to be a significant move in the Bearish direction for RUT, in particular. I collected 0.75 when I opened […]


Market Update for May 5th, 2016

Read the full article → May 5, 2016

Jobs! Jobs! Jobs! That’s what I have been preaching for many years – and you know it if you have followed me for any length of time. The trade agreements that were put together by lobbyist and big business, moved our manufacturing to the third world. That is what destroyed the middle class here and […]


Weekly Warp Up for Friday, April 22, 2016

Read the full article → April 22, 2016

Economic statistics continue to disappoint but the stock market just seems to shrug it off and march upward – overall – with the exception recently of the NASDAQ. Even though QE is supposedly over, there must be something else going on. Also today we take a look at Covered Calls on GLD and F (Ford). […]


Weekly Wrap Up for Friday, April 8th, 2016

Read the full article → April 8, 2016

I said I might roll that RUT Bear Call APR spread to MAY last week, and that’s what I did. Most of this week’s update will be an analysis of the numbers involved in that roll. After the roll, I Condorized it with a MAY Bull Put Credit Spread. At first glance it looks like […]


Market Warp Up for Friday, April 1, 2016

Read the full article → April 1, 2016

No fooling, really. This is a genuine high level summary of the market this week with emphasis on my RUT Bear Call Spread and a few words on the Ford (F) and GLD simulated Covered Calls I have an April expiration on RUT with the short contract at a strike of 1100. RUT closed today […]


Market Update for Thursday, March 17th, 2016

Read the full article → March 17, 2016

Is the economy a reflection of the market? Or is the market a reflection of the economy? If you’re looking for that answer, don’t look here. But if you want a little entertainment while maybe learning a few things about options, then check out this video. Today we look at some economic announcements, which really […]