The market was quiet this past week. So quiet that the guys on the trading floor actually resorted to watching soccer to pass the time. The S&P 500 and all the strategy indexes reflect this with a lot of sideways action finishing the week pretty close to unchanged.
For the official record – BXM, BXY, and PUT slightly beat the S&P 500 total return last week. This relative out performance of the S&P 500 can be attributed to a little time decay out of the short option positions. We are just one week removed from each of the indexes going through their roll for June so the time decay benefit was present, but fairly negligible.