MAY 09 Trades

I'll keep this post with a link to the full history of my MAY/09 Trades. It wasn't pretty, I learned a lot, but can't honestly say I enjoyed this too much. :)

1) RUT 50-Day Condor
2) MNX 45-Day Condor
3) EWZ Double Diagonal
4) OIH 30-Day Condor
5) SPEC XLF Broken-Wind Butterfly

XLE SPEC Bearish Broken Wing

I created a bearish trade Today, a Broken wing butterfly on XLF. I noticed a big reversal pattern at the top of this up-trend: We have a gap up with a dark cloud Cover, so I expect this to show some bearish movement and close bellow the current levels in the next few days.

There is no adjustment or anything, I want to experiment with this type of strategy. Notice I risk $47 to make $50+, with the potential to jackpot at $153.

DIA Price Study

Today I started a new trade, the DIA Double Diagonal. I placed this trade a bit bearish, given the market has been running up and I believe it is due to a pull back. I didn't want to go way too bearish on it, given the fact we're dealing with a decent up-trend. I also made it a bit vega positive, so if we do indeed go down it will help me as well.

Bellow are the VIPES, Deviation and Price Profiles:

05/07 RUT 50-Day Condor

Today RUT took a dive. I was looking at it and anticipated a move down if we broke Yesterday's Low. Which we did. Now we stand a chance to back down all the way to 480. My thinking is that there is plenty of support in that area, so it may stay there for a few days. It can always snap back up, so we'll see. One way or the other, the condor is in good shape.