Wednesday, August 5, 2009

08/05 Daily Summary

Today's pull back was very welcome in my portfolio. The MNX Iron Butterfly posted a decent recovery and the IBM Calendar is starting to show profits. All in all, a very good day on the portfolio.

Position's Details:
08/05 IBM Calendar
08/05 MNX Iron Butterfly

08/05 IBM Calendar

IBM is back in the center, now in the middle of my double calendar. I hope we stay around for a few more days and I can collect enough Theta to exit the position.


08/05 MNX Iron Butterfly

This is the reason why I favor the Iron Butterflies: They recover fast! Nothing like a small pullback to see the profits recover by almost 50%. Now it is a matter of managing the position, as time goes by the theta will increase, and so will gamma, so if MNX stays range-bound for a few days we can bring this one home.