Wednesday, November 11, 2009

11/10 Daily Summary

It was nice to have a quiet day for a change. I still have the trades on, but right about now is time to think about what my exit strategy will be. I'm giving it an extra day Today and plan on start condorizing the best way possible.

Position's Summary:
11/10 MNX Iron Butterfly
11/10 NDX Iron Butterfly

Price Action and Vertical Solution's graph:



11/10 MNX Iron Butterfly

Rolled the 172.5 call contracts to 177.5, this is buying me some time and keeping the trade under the tent. No major dreams of max profits here, it is basically a matter of buying time to get out with less damage if possible.

11/10 NDX Iron Butterfly

Giving the trade one more day, if we don't pull back some, will have to pull the plug and get out.