06/08 RUT 30-Day Condor

RUT was down all the way to 520, then it jumped back up to 530 in the final hour, just to finish at 525. I was glad I did not hedge the position when it was around 520, the main reason why is that I wasn't seeing much strengh in the 30-Min and 1-Hour charts, however, I had my line in the sand, if we were to hit 518 I'd come in and fix up my deltas.

I learned one thing Today, the fact that weekend Time-decay was mostly priced in on FRIDAY, when I bought the Iron Butterfly position, if you look back at my TOS chart from Friday (see the green line, that represents Monday), you'll see that I was expecting to be almost at break-even on Monday, however, we opened just about the same level and the Iron Butterfly only started to give up theta at the end of day on Monday. Am I missing something here?

One way or another, having added the iron butterfly allowed me to recover 10% from Friday to Monday, and there is more to come Tomorrow. So my job now is to make sure I navigate this trade back into the green zone by Friday.