Monday, March 8, 2010

03/08 OEX Weekly Iron Condor

Started up a new OEX weekly position. I got in mid-morning, and although the call strike was around 13 delta I evaluated the day’s structure and assumed it would continue to be range-bound, so decided it was ok to open the position mid-day. I use the forecast tool to help me determine the day’s structure during the intra-day price action, in addition to $TICK and the 30-min/1-hour candle patterns in the price charts.

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