Commodity Trading Advisors
| COMMODITY TRADING ADVISOR | GrowthPoint |
| TRADING PROGRAM | Iron Condor |
| MINIMUM ACCOUNT | $100,000 usd |
TRADING STRATEGY
The Iron Condor program trades exclusively in options on S&P Index Futures. The trade consists of a put spread and a call spread. Both are credit spreads. Each trade lasts from 30-75 days. The manager typically exits the trade 1-2 weeks prior to expiration. He manages risks by calculating the probability of the index finishing in the money on the call or put side. The risk is the index increasing or decreasing in value and moving into the money faster than our positions can be liquidated. The manager typically only set trades which have an expected annualized rate of return of 30% or greater. Perfomance for 2004 and 2005 is from proprietory trading.
TRADING STYLE: Option trading / credit spreads / medium term / indices
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