06/29 Daily Summary

Nothing major happened Today, SPX made new highs, but it wasn't followed by RUT or MNX, trading was range-bound for most of the afternoon.

I had an automatic adjustment on the SPX Iron Butterfly but the adjustment wasn't enought and I ended up the day more delta negative than I wanted. Also, by the end of the day I cut a few deltas on the MNX Iron Butterfly to keep it in line with the theta.

For tomorrow, should we keep moving up, I will execute some butterfly rolls to move my short CALL contracts on both the RUT and SPX Iron Butterflies. The MNX iron butterfly is not quite at a point where I need to move the short CALLs, so if we move up on MNX I'll add long AUG CALLS to bring the delta back down in 1/2.

New positions this week:
I'm thinking about adding a 50-day Iron Condor for Aug/09 Contracts, I might do it on the small side. This should probably be something I do on Wednesday (if I decide to do it)

Here is a summary of each open position:
06/29 RUT Iron Butterfly
06/29 SPX Iron Butterfly
06/29 MNX Iron Butterfly