Tuesday, September 1, 2009

08/31 Daily Summary

Today's price action was beneficial to the portfolio! I have reached the +10% on both my iron butterflies and the IBM didn't suffer that much with the retreat.

One thing I'm wondering is how to control the increased gamma exposure on my RUT Iron butterfly, I think it was caused by my 2nd butterfly being short the 590 PUTs. I'll send a quick email to Dan Harvey and ask for his input.. I was considering giving up some of the theta and do a strangle to cut the gamma down, let's see what Dan says.

Position's Details:
08/31 IBM Calendar
08/31 RUT Iron Butterfly
08/31 MNX Iron Butterfly

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