Sunday, September 21, 2014

Weekly Market Reivew K200

K200 closed at 262.31 on Friday, 19-Sep-2014, lost 0.92 (0.35%) over the last 5 trading days.

Looking at the bigger picture on daily chart, K220 stop going down and try going up.  However, the strength seems weak.  It only climb 0.92 for 5 trading days.  If K220 didn't continue the push to go higher in the coming week(s), it will establish another lower high.  This will be very bearish.

Looking at the Weekly chart, K200 dip briefly below the trend line and move up.  However, as in daily chart, the move up didn't seem strong.  The next week is important for it to show its strength or weakness.

Not much change at Monthly chart, K200 is heading lower.  Will it be bounce off the uptrend line like the past few months?

October PositionOctober 2014 K200 Iron Condor
October Position is closed with the Close October 2014 K200 Put Spread of Iron Condor.

November Position : Iron Condor 242.5/245/280/282.5
November Position is currently at a paper gain of about 0.14 points (KRW 70,000, before commission).  K200 is about 16 points away from the Short Call; 17 points away from the Short Put.  Delta is at 0.0771 for Short Call; 0.0761 for Short Put(finally, this week IB is correct).  DTE is 54 days.  This position looks good.  No action required. 

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