I didn’t end up selling calls a few days back as my deltas were just a bit too high for my liking. We’re quite balanced on the MICs so we’ll just leave them as is. Its been an easy year for MICs so far.
I find myself looking at the market and technicals far less these days. I set my alerts and follow them relgiously and since then I haven’t really wasted nearly as much time. It’s as though I don’t even care about normal market movements. I don’t do discretionary adjustments unless its for a few units and affects little. I don’t ever get in a situation of “hoping” the market moves in some direction.
I always considered the MIC strategy as being somewhat of a glorified insurance salesmen. You’re literally selling risk while hedging it. Extracting premium out of the market. I really enjoy time decay based strategies. I’ve been doing some calendars and one day when I have more time I’ll start backtesting 9 day iron condors. Over the break I spent about 15 hours backtesting the 4 day Iron condor that Sheridan had mentioned but I just couldn’t get it to work well enough to justify.