July 28, 2017

Another Test Of the 50-Day and Jump in VIX Leads to Wonderful Premium Opportunities

 would prefer to see an oversold reading in the S&P before considering a short-term (1-5 day) long position.

As for our Iron Condor strategy. It looks as though sitting on the sidelines this past week was a very wise decision. As I expected, the sharp decline came this week and resulted in an increase in the VIX. The increase in the VIX has led a nice jump in premium so our expected trade in the SPX Short Iron Condor strategy on Monday should allow our gains to exceed 10% over the next four weeks (July expiration) while increasing our range from 140 points to 160-180 points. That is certainly wonderful news for the Condor strategy. I will be sending out several proposed trades early Saturday to all of our paid subscribers. Of course, as always, only subscribers to the SPX Short Iron Condor strategy will receive the real-time alert on Monday.

Overbought/Oversold levels for June 22, 2007

  • SPY –  38.3 (neutral)
  • DIA – 36.2 (neutral)
  • IWM – 42.3 (neutral)
  • QQQQ – 46.1 (neutral)
  • GLD – 47.3 (neutral)
  • OIH – 68.7 – (neutral)  

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