Wednesday, December 30, 2009

12/29 MNX Iron Butterfly

I did 1 vertical roll to keep my deltas under control on the trade. I have to say, I'm keeping the delta hogs (short 180 Calls) for a bit longer than I want to. My feeling is that this upside swing needs a pull back and the lack of volume indicates that the heavy market players are all on vacation this week, so who knows what they might want to do once they come back Monday of next week..

Bottom line, now matter how hard you think about a decision, there is always a possible outcome that will prove you wrong. In my case, I've been trigger happy in the past, am trying to keep it controlled this time around. It may come back to haunt me.. we'll just have to see it.

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