Monday, October 26, 2009

10/26 RUT Iron Butterfly

I made adjustments to the position by end of day Today. I rolled the 620 Put into the 600 level, and decided to open a new iron butterfly at the 590 strike to benefit from the pop in volatility. Those two adjustments injected more theta into the position and should volatility come down it will look really good.

I decided against selling the 590 Calls, opted for the 600 instead. I don't want to be rolling up if we bounce from these levels.

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