Today was a nice quiet day, I added the remaining contracts on my SPY Double-diagonal. I wanted to wait until Wednesday, but I'm not sure I'll be able to trade at the end of the day Tomorrow, so I did it Today.
The paper trades are doing a lot better after one day of little movement. I have started to simplify the position and am pushing it for one more day in the expiration week. I watched a web-ex session in Dan Sheridan's site with Dan Harvey and Gary Lee. Gary took an iron butterfly and just observed it day-by-day, it was great to see how these trades are a lot stronger than I originally thought, I over-adjusted and Gary made no adjustments, his profits were huge and mine are not yet here.. Of course, the market stayed in a range-bound environment, otherwise the story would be a lot different :)
Positions Summary:
07/14 SPY Double Diagonal
07/14 RUT Iron Butterfly
07/14 SPX Iron Butterfly
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2 comments:
Yes on that paper NDX Iron Bfly you'd be eating crackers on July 1 and then steak and lobsters after July 2 8-).
It's 10est and with the rally 30k profits have shrunk to 5k. This has definitely been a great learning experience. Keep up the good work on this blog! Your blog entries are an excellent inspiration for a daily trade journal.
Thanks Gary!
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