Trade Update: July 2009

Below is a chart of the remaining open strikes as well as their % distance from becoming itm. With 15 days remaining until expiry, I expect these trades to remain safely otm. I do however plan to close them out at .05 when possible in order to take the risk associated with the trades off. If so, this months net will be about $850.00!

Considering today's poor sentiment numbers and Thursdays jobs report certain to show an increase in unemployment (I personally expect the unemployment rate to come in at 10%), I think we may soon get another break downward in the NDX and coincidentally a rise in the VXN. At that point I would look to start placing Aug 2009 trades. Depending on the premiums I can collect, I would look to place trades 20% otm. Currently that strike would be the 1175 which could be sold for about $4, but depending on the severity of the downward move, hopefully I can sell a lower strike for the same amount if not more.