The Week’s Action
FTSE cash index- 7463 open, close 7424 high 7561,low 7396.75 (last week 7527 open 7463 close high 7545 low 7378)
FTSE volatility- open 9.96–10.38 close ( last week 9.86 open 9.96close )
What Trades Would Have Done well?
Tuesday saw another feeble high. Shorting this with long put spread strategies, and selling call spread strategies worked. Failed to pick the absolute top but did well on Monday’s puppy dog enthusiasm, and Wednesday’s reality check.(See below) Volatility flattened and did little, even though the market was lower on Thursday
Market Volatility
from 8.56 – 12.32 (last week High 12.1 low 7.68)-not a suitable environment to sell premium in isolation.
VFTSE is not a traded product.
https://www.google.co.uk/finance?q=INDEXEURO%3AVFTSE&ei=b4lOWZjRDMKVUKqYgZAD
News
Brexit negotiations a non-event, politics and world events are not moving markets. Oil creaked lower, but this can change
Summary
Again, being positioned for a market down move and increase in volatility served us well. Taking another put back spread opened for a debit of 11. Closed for a credit of 23. The market action is becoming all too familiar. It may well break the mould next week
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