Dear all
Being an iron condor trader for quite a while I have been making slow but steady money for last few months. Though last few months were a condor trader's nightmare due to insane VIX spikes and one sided bullish ralley, but sticking with rules still returned as 2% monthly returns. I just closed my current condor position today of Short7500CE-Long7700CE and Short 6400PE-Long6200PE with some profit because of sudden fall of VIX in last two days.
Now I have freed my capital for Thursday-Friday trade. Though exit poll says its NDA and market may see another 5+% if it's true. But with a VIX so high I am still afraid of going for Strangle or Straddle as we all witnessed today; as it was showing loss even after market was 2% high.
My second option is going Long May Futures; but it may turn in huge loss if no clear majority is seen in election result. My third option is Long Futures and Long Strangle for uncertain moves. My last option is to Short in the money Puts in case its a falling VIX and results are as per exit poll.
I am still not sure which strategy to go ahead, please suggest if anyone has got a better idea with best risk/reward ration as I don't want to miss this opportunity . I will be highly thankful.:thumb::thumb::thumb:
Being an iron condor trader for quite a while I have been making slow but steady money for last few months. Though last few months were a condor trader's nightmare due to insane VIX spikes and one sided bullish ralley, but sticking with rules still returned as 2% monthly returns. I just closed my current condor position today of Short7500CE-Long7700CE and Short 6400PE-Long6200PE with some profit because of sudden fall of VIX in last two days.
Now I have freed my capital for Thursday-Friday trade. Though exit poll says its NDA and market may see another 5+% if it's true. But with a VIX so high I am still afraid of going for Strangle or Straddle as we all witnessed today; as it was showing loss even after market was 2% high.
My second option is going Long May Futures; but it may turn in huge loss if no clear majority is seen in election result. My third option is Long Futures and Long Strangle for uncertain moves. My last option is to Short in the money Puts in case its a falling VIX and results are as per exit poll.
I am still not sure which strategy to go ahead, please suggest if anyone has got a better idea with best risk/reward ration as I don't want to miss this opportunity . I will be highly thankful.:thumb::thumb::thumb: