IWM has been holding in a sideways channel and is also presenting us with a reasonable level of implied volatility. This gives us an excellent setup for an Iron Condor.
FDX has been in a broad sideways channel since the beginning of the year. We have a period between earnings announcements where we can use this sideways direction to create a nice Iron Condor.
DE’s trend stagnated and the market pulled it back a bit. It didn’t hit our target of $113, but the trade structure of the diagonal gave us a small profit anyhow.
The last few days had been an improvement in this trade, but today’s pullback reversed that. We have only a few days left and the risk of a larger loss is significant if AMZN doesn’t rise quickly.
To avoid further risks in this position I am closing it down.
SPG invests in and manages Malls and other properties. These businesses have ever increasing challenges as buying habits move away from big box stores.
This has SPG in a solid downtrend and even in these low IV conditions, it has a moderate amount of IV. This gives us the rare opportunity to do a solid Bear Call Spread.
I believe that DE will continue in a bullish trend, but due to broad market risks, we have a chance that a market drop could quickly pull it down. If DE drops, its IV should jump from its current low position. The situation is a good opportunity to use a calendar based trade.