Monday, August 17, 2009

08/17 MNX Iron Butterfly - SEP

OUCH!! Taking a 2 standard deviation move right off the gates is never fun! This time we'll be testing the MNX, can it handle it?!? Can I handle one hard-core trade after another? I thought I'd get a break in the SEP contracts, well, this may be just the beginning of another long trade..

I was forced to cut deltas, my original plan was to leave the position alone, we broke the threshold of comfort, so I cut the deltas and am ready to keep with the market if we keep rolling down.
Position's History:
08/14 MNX Iron Butterfly - SEP
08/15 MNX Price & Volatility Study
08/13 MNX Iron Butterfly - SEP *New*

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