JUL MNX Iron Butterfly (day-by-day review)

I exited the trade after it gave me 10% in just 10 trading sessions. I decided to just head for the exits and take some time between live positions.

Start: 06/16/09
Finish: 07/01/09
Duration: 2 weeks
Results: +10.80%

07/01 MNX Iron Butterfly *Closed*

06/30 MNX Iron Butterfly - "I started peeling off spreads on the trade."

06/29 MNX Iron Butterfly - "I almost cut my deltas at 149 Today, was thinking about doing that when MNX was trading at 147 (first hour of the day). I even posted an adjustment in twitter and the blog. After spending some time thinking about it, I decided to stick with Friday's plan. "

06/26 MNX Iron Butterfly - "Decided to not touch the trade at the end of day. MNX pushed a bit higher, but its 1-hour chart was showing real weakness at the top. As of now, theta:delta ratio is about 1:1"

06/25 MNX Iron Butterfly - "MNX reached the 147 adjustment point, I cut the deltas in 1/2 and have the contingent orders to continue cutting if we keep moving up Tomorrow."

06/24 MNX Iron Butterfly - "MNX hit the first adjustment level I had to the up-side Today. It was moving by more than 1 st. deviation intra-day, then faded after the interest rate announcement."

06/23 MNX Iron Butterfly - "The trade got the benefits from a quiet day in the markets. I have the contingent orders in place and let's see what happens next. "

06/22 SPX Iron Butterfly

06/19 MNX Iron Butterfly - "As I had planned on my pre-opening plan, I did add the Long AUG Call to cut the deltas in 1/2 once they were around twice my theta"

06/18 MNX Iron Butterfly - "I just love how quickly these trades build up profit. Look at it, almost as much as the SPY Double Diagonal, the DD has been there for almost 3 weeks, this thing has been here for 3 days!"

06/17 MNX Iron Butterfly

06/16 MNX Iron Butterfly *New*