Today the only trade that needed a little push was the RUT Iron Butterfly. I started with a 30-point wide butterfly, so adjusting was very much expected.
Tomorrow I plan on adding the 2nd 1/2 to the IBM calendar, I'm leaning towards the 115 calendar, but have not yet being convinced we're going to have a big pull back from here, on the chart, IBM it looks weak at the top, but we'll see.
Position's Details:
08/25 IBM Calendar
08/25 RUT Iron Butterfly
08/25 MNX Iron Butterfly
Tuesday, August 25, 2009
08/25 IBM Calendar
Plan on adding the 2nd half of the trade Tomorrow. I'm leaning towards the 115 calendar, but not quite sure yet.
Previous Posting:
08/24 IBM Calendar *New*
08/25 RUT Iron Butterfly
Today I added to the RUT position, decided to open another iron butterfly at the 590 strike, this allows me to pump up the up-side break-even and really jack up the theta. I wanted to add 2 contracts, but made a mistake while entering the order and ended up with 3, not a big deal, just extra theta and more inventory to manage if we start rolling to the down-side.
Previous Posting:
08/24 RUT Iron Butterfly
08/25 MNX Iron Butterfly
MNX moved a bit higher Today, did not trigger any contingent orders, that's always a great thing! I have orders in place for Tomorrow. For now the trade is collecting profits as theta is working for it.
Previous' Posting:
08/24 MNX Iron Butterfly
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