10/14 Daily Summary

We moved a bit under 1.5 st. deviation on RUT and MNX. One thing to notice is that this move was mostly done in the first hour of trading, after that the market just moved higher slightly. I observed the Vertical Solutions' forecast was lagging behind, showing down-ward pressure, while the FinViz was showing a brigh-green heat map with stronger Advancing vs. declining issues.

This non-confirmation of sorts told me that it was unlikely for the market to push much higher and that if an adjustment was needed, it could be done by end of day. I closed the last remaining short strikes on my MNX and am ready to re-load the NOV iron Butterflies.

Position's Details:
10/14 MNX Iron Butterfly

Price action & Charts:

10/14 MNX Iron Butterfly

Closed the last 2 remaining short contracts (Put and Call), closed as a PUT/CALL strangle, this will leave only the longs and if we stand still the P&L on the trade will be about 14%.

10/13 Daily Summary

Not much happened in the markets, as you can see, very little movement on RUT and MNX. Notice the 5-day price spike charts are showing a wave-like pattern, that to me indicates we're in channeling mode.

I'm enjoying a bit of a break in between positions, will start the NOV cycle later this week.

Position's Summary:
10/13 MNX Iron Butterfly

Price action & Charts:

10/13 MNX Iron Butterfly

MNX barely moved, I'll leave the remaining contracts on and let them expire. Not much to report, the profile below displays the 1 st. deviation at expiration.