by Ruud van Megen - Publication date: August 3, 2026
Here is our monthly overview for July.
The AEX ultimately closed slightly higher in July, but as late as the final week of trading, the index had fallen back below the closing level of the first week of July on Monday. In other words, right up until the final week, there was a possibility that the month would end in the red.
Trading was very challenging due to the lack of a clear trend in the index. Ultimately, we managed to close all weekly trades in the black. We now also have a longer-term call spread as a price target position, as well as a weekly position that provides coverage for this call spread.
We have a calculated price target of 1,118 for the AEX. Of course, there are no guarantees that we’ll actually see such a price, but this price target remains open, and the latest trading signal was a buy signal.
Closed option positions per week — RVM Strategy: Week 2 + €21.53, Week 3 + €21.38, Week 4 + €14.58, Week 5 + €36.38. Monthly total for July 2026 options: +€93.87. Monthly total for the RVM Strategy July 2026: +€77.45, or +0.78%.
Closed option positions by week — RVM Strategy: Week 2 + €21.53, Week 3 + €21.38, Week 4 + €14.58, Week 5 + €36.38. Monthly total for options in July 2026: + €93.87. Monthly total for RVM Strategy in July 2026: + €77.45, or +0.78%.
Closed option positions by week — RVM Retirement: Week 1 €0.00, Week 2 + €21.65, Week 3 + €19.76, Week 4 + €13.33, Week 5 + €34.38. Monthly total for July 2026: +€89.12, or +0.74%.
Open positions: + 1 CALL AEX SEPT 1115.00 / − 1 CALL AEX SEPT 1125.00 (the call spread as a price target position), plus − 1 CALL AX1 1120.00 as a hedged weekly position.