Last week was a fairly quiet one on a week over week basis. The S&P 500 was down about 2 ½ points this week and when I visited the floor it felt like the summer doldrums were setting in. Of course it being sunny and 80 degrees outside may have contributed to that feeling. Now that I think about it as I walked to the train there was more activity on the patio at Franklin Tap than in the SPX or VIX pits this afternoon. The S&P 500 was down slightly, but the three strategy indexes I’m following in this blog managed to post gains for the week. That is what happens when you are short options and the underlying market doesn’t do too much.
As mentioned BXM, BXY, and PUT all managed gains for the week and I have decided to award a tie to BXM and PUT as the top performers for the week. Since I’m old school and remember when we traded in fractions we are going to say that BXM and PUT were up ¼ a percent last week. For the year, the CBOE S&P 500 PutWrite Index remains the leader with a gain of over 4%, the two buy write indexes are looking good as well with gains of just under 4% while the total return for the S&P 500 is showing a gain of 2.37% for 2014.