ROI Note Iron Condor 3 Sep 20 2018

We enabled the Iron Condor 3 (IC3) autotrade portfolio in June 2018.  We turned on IC3 because we had new clients waiting for new trades, but we were unable to open new trades in Iron Condor because we were in adjustment mode since mid-March 2018 after Trump announced the China tariffs.  Even though IC3 shows a drawdown, this portfolio is in okay shape.  This portfolio was UP 12% as of August 2018, but we gave back those gains when the SPX broke up through 2873, representing an all time high and a major breakout.  When the underlying index breaks up through a major level, we’ll typically have several months of losses as we are adjusting all of the trades and moving them up and repositioning them around a new trading range.  As of late September 2018, the new trading range for the SPX is now 2873 up to 3000, and our adjustments are about complete where we’ll be getting back to work in the next 4 to 6 weeks to start making positive monthly gains.