Wednesday, July 22, 2009

7/22 Daily Summary

Today only the MNX kept pushing higher, the other indexes posted slight losses. As I glance over the charts, it is showing some hesitation at the top, so we'll see how it develops in the next couple of days.

One way or another, I'm being extra conservative with adding protection against the up-side movement. I'm specially avoiding adding put spreads. Who knows, this may snap back to the lows in a few days worth of trading. One has to remember we're trading during the summer months, and there are a lot less players, so it doesn't take much to move the market one way or another.

I adjusted the MNX Iron Butterfly, closed the PUT diagonal on the SPY Double Diagonal and finished allocating the RUT 30-day Iron Condor. Now all that is left is the IBM calendar, which I may start building early next week.

I didn't backtest the MNX Iron Butterfly, decided to take a mid-week break. I sent out an improvement request for TOS's backtrading feature, I'm hopping they implement it. It will make my backtesting a LOT easier.

Position's details:
7/22 RUT 30-Day Iron Condor
07/22 MNX Iron Butterfly
07/22 SPY Double Diagonal

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