I am closing this defined risk bullish trade in Amazon. AMZN’s share price rose on a positive earnings release enabling the closure of this position for a $2,280 profit per 10 lot. Bought AMZN Aug 28 -2900P+2890P for a debit of $2.77.

I am closing the Notes Over Bonds spread. The spread reverted resulting in a quick profit. Bought /ZB Sep 179′ 20 and sold 2 x /ZN Sep 139′ 10.

I am taking off the corn strangle after two weeks for a profit of $200 per contract. The price of corn hung out at the lower boundary of this strangle for most of the trade, but enough time passed and volatility dropped a tad to make it a winner. Bought…

I am closing the EURN puts to lock in about half of the credit collected by selling and rolling these puts during the past couple of months. I am still bullish on tankers and have plenty of exposure remaining. Since the volatility of tanker options has been dropping, it makes…

Silver had a decent rise in price so I am buying back the silver put. I still like silver and would consider selling a put again with a rise in volatility and/or drop in the price of silver. Bought /SI Aug 18.65P for a 0.672 debit.

The rising price of crude made this trade a loser from the start. I am pleased to be able to scratch it. Commodity prices have been rising as the value of the US dollar has been dropping. Being able to break even when the price of crude shot up above…

Wheat prices jumped almost immediately so I am taking profits of $300 per contract in one day. Bought /ZW Aug 490P for a 7.875 debit.

A small rebound in the price of natural gas is providing an opportunity to take a quick profit of $200 per contract. My rule of thumb is to take the trade off if it shows a quick and reasonable profit. Bought /NG Jul 1.5 P for a debit of 0.086.

The iron condor in silver closed out for a loss of $575 per contract. Iron condors are defined risk trades. Their advantages include knowing the maximum possible loss at order entry and requiring less buying power reduction than undefined risk trades. Many traders like those attributes, but there are drawbacks.…

There was a significant rally and the NOB spread narrowed leading to a $312 profit per spread in one day. There were opportunities to take the trade off at better prices, but I was a little early. Bought /ZB Sep 177′ 00 and sold 2 x /ZN Sep 138′ 215…