Blog dedicated to ETF and Index option trading strategies using credit spread and money management.
Wednesday, July 1, 2009
07/01 SPX Iron Butterfly
SPX Moved higher intra-day but backed off at the end of the day. The position had no automatic adjustment. At the end of the day I did a butterfly roll to get rid of the last short 895 CALL. This adjustment broght a lot more theta into play and eliminated some delta.
Looking forward to a recovery, let's see if SPX stays quiet for a few days going into the weekend.
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ps: Thanks to my Lawyer friend and avid reader Chad for the disclaimer!
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