Weekly Warp Up for Friday, April 22, 2016

by Jeff on April 22, 2016

magenta_shadow_iconEconomic 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). Since F has a dividend coming up this month, I rolled the JUN 12.75 to JUL 13 because of the risk of possible exercise. Watch the video to find out why. I’m leaving GLD to ride for now.

On to the RUT Iron Condor. The 1100 Call side is 45 ITM right now and the 950 Put side is cheap to buy back, so I did. Then I sold a MAY 1050 Bull Put to re-condorize for a net credit of 0.60. There is still a possibility of RUT reversing and moving back below the 1100 price and if it does, I will be waiting to get out with minimal damage. If it doesn’t… well stay tuned.

4-22-2016 1-54-56 PM

4-22-2016 1-45-06 PM

My spread sheet is updated and available on the Downloads page.

Click here to watch the video

Click here to watch the video

Happy Trading


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