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Originally Posted by jimmycooper
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I was doing quite well with Iron Condors a few years ago. I only traded the indices rather than individual stocks. Unfortunately since the "crash" I gave up on Iron Condors due to the volatility that has taken hold in the "post-crash" market.
Prior to the crash it was pretty easy to make consistent profits (mostly on the S&P and the RUSSEL) because the market didn't jump all over the place every time some small piece of economic data was released. Sure it moved on the major reports however these days you get the same size moves on even the most inconsequential report or even some news story of political unrest in some country that has absolutely no impact on the U.S. economy.
Yeah, the premiums were a lot lower back then due to the lower volatility however I'll take lower premiums that are consistent winners month-after-month over larger inconsistent premiums any day of the week. It's all about risk/reward. Even with the most complex repair strategies I've had a really hard time making any money with IC's since the crash.
Have you been trading them in the post-crash market? If so any particular tips?