06/02 Portfolio Update

If we continue at those levels, I may need to add a few positions to the portfolio, notice how the Theta is not very good. By adding a few positions I can ensure the profit target is reached by the end of next week.

With 17 days to go, these will be considered adjustments and not necessarily new positions, no management except get in or get out if they don't work out. Will consider a few options Tomorrow before the market opens.

06/02 DIA Iron Butterfly

With DIA at 87.7 I decided that the position needed extra Theta. So I used a butterfly roll to get rit of a couple of the short 85 CALL contracts, re-selling them at 88. This eliminated the "delta hogs" and gave me some more theta. I also wanted to lean bearish again, provided the overall market (expect RUT) did not show strong signs of bulish sentiment. I've posted the before and after pictures:
Here is the position after I adjusted. I plan on hedging again if we get to 88

This is the position where I decided to adjust, notice I was really low on Theta.

06/02 SPY Calendar

This seems to be the only position making money on the portfolio Today. It improved and I'm still expecting to exit with 15% some time soon.

06/02 MDY 30-Day Condor

The MDY trade is on hold pattern, the P&L somehow improved a bit Today. Once again, it makes no financial sense to leave the position on if it is not earning any money. I might add a calendar or pull it off the table.

06/02 RUT 30-Day Condor

The anxiety is out of this trade, however, I must start looking for a way out of this hedge, it makes no financial sense to leave the money sitting there earning no time decay. This is true for both my 30-Day Condors this month. I'm considering adding calendars to juice up potential profits.

06/02 RUT 50-Day Condor

The position made through another day, barely to be realistic, we're not on high alert for the up-side. My expectation is for a down-day soon, let's hope sooner than later. I'm once again in a position where I sit on my hands. I'm planning to keep these 50-Dah condors very small. Won't be adding to the JUL portfolio.