Condor Options

Calendar Options Monthly Review

We began putting more emphasis on a portfolio-level view of risk-management in the July cycle, entering multiple trades on a single underlying and looking at the overall position, as well as each individual trade, in deciding when and how to make adjustments. Our return for the month wasn’t stellar, but considering the fact that the market traced out an 8% correction before recovering abruptly in expiration week, we think our 3% average return per trade showed that the…