Trading Verticals...

Discussion in 'Trading' started by Almanac, Oct 20, 2008.

  1. Almanac

    Almanac

    I've been trading Iron Condors on the SPY for over a year. Every month, 40 days before expiration, I sell contracts that are 15% OTM and then close them out 10 days prior to expiration.

    This strategy has been netting me a tidy profit until October. When the market tanked, I was well in the money. I rolled them into November, but I expect to fully lose there as well.

    I am always looking to learn. What can I do in the future to protect myself against such significant market moves?

    Al