Thursday, July 23, 2009

7/23 SPY Double Diagonal

Today I used a butterfly roll to move 3 of the short 94 CALL contracts and sell the 98 CALLs, this was my way to cut the deltas in the position, I wanted to avoid doing so, but with SPY breaking the previous trading range I had no choice but to stretch the up-side stop as much as possible.

At this point, I'll have to add to the position in order to make a profit. I'll look at it very carefully Tomorrow and come up with a plan.

Position's History:

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