Today's price action on RUT caught me off-guard, I was expecting volatility to drop, but it didn't, so I had to exit the position in the last hour. I tried filling the spread but could not get a fill, and therefore decided to hedge with a back-month long Call. As it turns out, in hindsight I would be much better off by hedging with a JAN contract, as it would leave me exposed to less Vega risk. See both profiles in the position's detail. My plan is to work my way out of the spread Tomorrow or Monday.
MNX also kept pushing higher, I now have an up-side alert on the 5-day Volatility chart, so I decided to start rolling a few of the 180 Calls, hedging against a continued move upward. I don't have contingent orders to the up-side for Tomorrow, if it moves higher I'll trade the long Calls for the vertical spreads to roll the delta hogs (180 Calls).
Positon's Details and Price action charts:12/23 MNX Iron Butterfly12/23 RUT Iron Condor
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