Friday, February 26, 2010

02/26 Daily Summary

Not much to report Today, OEX didn’t quite move and gracefully expired within my weekly condor. I am grateful for this week. We all (income traders) needed this break. Notice how the market seems to be navigating in calm waters. I sure hope we keep it up for the next few months!


Bobby B said...

Hi G,

What is your stop loss you use on the OEX weekly?

1.5x credit?



Gustavo's Trades said...

Hi Bobby, Yes, I'm using -1.5x the credit as the stop level. On the weekly position I entered on 2/16 I let it go a bit wider and do not plan on doing so any longer.

The stop-loss and capital allocation are the key things to manage on this trade.