06/19 MNX Iron Butterfly

I look at the P&L on this position and keep wondering, is this right? 5% in just 3 days?!? I tell you what, if we keep up with this pace, I'll be out of the trade next week. Let's hope so.

As I had planned on my pre-opening plan, I did add the Long AUG Call to cut the deltas in 1/2 once they were around twice my theta. I'll drop this long call if we move back to the other side of the tent and my deltas start to become positive again. I like the fact this adjustment also cut my Gamma, and didn't hurt the theta by much.