Thursday, June 11, 2009

06/11 Pre-opening game

US Futures turned lower after core retail sales, and unemployment claims. We saw a spike up and then an immediate reversal pointing and breaking the overnight lows , new lows are being made on the 934 area, which is a price level we have seen over and over again this week.

Now, as far as my positions are concerned, boy am I glad I ended the day delta negative... Not saying I knew it, but my gut feeling was not to mess with it, taking a bit more risk than I liked.

MDY 30-Day Condor: Hedge the up-side if we're moving around 110 with strengh. As per the risk chart, if we go to 110 we'll be losing a bit on the P/L level, however, my money is on the dow-side Today.

DIA Iron Butterfly: DIA trading at 87.60 level, the down-side is fairly safe, but plan on hedging the position if we head back up, say above 88.5 the half-point between where it is and the 1 st. deviation up.

SPY Double Diagonal: Watching with alerts, so far no action required.

New position Today: RUT 30-Day Condor, yes, we're still 35 days away from the mark, but I'm deploying this puppy a bit at a time, starting Today and adding to it next week. I'm loading it with insurance as I'm starting to think Volatility is about to come back.

No comments: