Tuesday, June 9, 2009

06/09 Pre-opening game plan

As by the looks of things, we're not moving much at the opening this morning. Right around now, /ES is at 942 and /TF around 528. The volume is building up at higher price levels, but the overninght range is fairly small, so we'll see how it behaves at the opening.

Bellow is my game plan for each position:

RUT 30-Day condor: /TF hovering 528, it will be nice to see an opening there. I have an alert again at 520, my goal will be to hedge the trade if we go there again, giving it was a bounce point Yesterday, I may give it some roon, say 518.

MDY 30-Day condor: Hovering around 108, delta should be fairly flat at those levels. I have alerts 1 st. deviation up and down, once again, my goal is to keep the plane flying level, without letting it go under by too much

DIA Iron Butterfly: Hovering 88 level, alerts around 1 point up and down, once again, we'll see how the market opens. If we hit these levels intra-day, I want to cut deltas by a bit over than half.

SPY Double Diagonal: Hovering 94.58, no need to worry about the position, just leaving alerts a bit beyond 1 st. deviation to the up-side. The down-side is beneficial to the trade.

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