Today’s rally was over before it got going. Our SMH 30 Sep iron condor short puts are still out of the money, but we are better off collecting a credit to manage this position rolling our calls down now. We can manage this position again via another alert in the next few days or during the live trading session on Friday.

TRADE ADJUSTMENT

Vaneck Semiconductor ETF (SMH):  190.15

TRADE ACTION:  ROLL the SMH 30 Sep 235 /240 call down to the SMH 30 Sep 195 /200 call for a net credit of around 1.15 to 1.20

BTC the SMH 30 Sep 235 call

STC the SMH 30 Sep 240 call

STO the SMH 30 Sep 195 call

BTO the SMH 30 Sep 200 call

SMH price has been bouncing around so work the trade.

The 50K Portfolio is trading 3 contracts; the 10K Portfolio is trading 1 contract.