The Greece "deal" and the Fed "decision" managed to suck a lot of volatility out of the Euro, causing my FXE iron condor to profit immensely, in addition to time running out. Managed to close an initial credit 0.90 with a 0.52 debit today! Clutch!
Made a trade Monday in a Chinese stock ETF, the Deutcshe Bank db-X (currency hedged) Chinese ETF. Because of the recent 13% drop on the Shanghai composite, IV has skyrocketed. I think the PBOC won't let that fall continue much longer but I don't think Chinese stocks will quickly resume their huge run-up. I'm expecting a consolidation before a move higher, which would slurp all that volatility out of Chinese stocks. At the time of placing the trade, both strikes of the iron condor were ~10% away from the market, and I still got a hefty 0.66 credit on a 2-wide strike, because IV rank was in the 99th percentile. Should be interesting because the liquidity of the options in ASHR is ... awful at best. Sometimes 0.40 wide bid-ask spreads!
Rolled that ORCL earnings trade to July opex. Has literally no chance of making money but hey, my total risk didn't increase from rolling it, so it was worth it to take a lotto chance of this becoming a scratch or a winner.
Really starting to like being delta neutral in this go-nowhere stock market. It's strange how there is more volatility in bonds and currencies than in stocks! Well, where the vol is, that's where the opportunities are right now. The support/resistance overbought/oversold directional swing trading just doesn't work in a non-trending market. I'll stick to delta neutral positions for awhile since they're working pretty well!
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