Monday, June 22, 2009

06/22 Pre-opening plan

1) MNX Iron Butterfly: I have an order to sell the long call if we go to 143.50. This will bring deltas back in check and release a some more theta.

2) RUT 30-Day Condor: I have an order to cut deltas in 1/2 if we reach 480. This is per trading plan and I don't expect RUT to go there Today as it would be over 2 st. deviation if it did. Provided we don't have any economic news, I'm not too concerned, but the contingent order is there just in case.

3) SPY Double Diagonal: I only have price alerts if we move 1 st. deviation down Today. I'll look and evaluate if a contingent order is needed if the alert is triggered.

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