Friday, July 31, 2009

07/31 Daily Update

Nothing major to report, MNX Iron Butterfly made a nice recovery with the small pull back and extra theta I added Yesterday with the adjustment. IBM Calendar working fine and the SPY Double Diagonal still hanging in there.

The RUT Iron Condor was the one in worst shape, the trade was approaching -15% and going into the weekend theta negative with a huge vega. If we moved up it would certainly hit the stop loss. It could also hit the stop loss if we stayed flat on Monday and Vols decreased. So I decided to call for help and added an Iron Butterfly on the position.

Detailed Positions:
07/31 IBM Calendar
07/30 RUT 30-Day Iron Condor
07/31 MNX Iron Butterfly
07/30 SPY Double Diagonal

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