01/04 MNX Iron Butterfly

Phew!! Not a pretty day for this trade. Notice in my dashboard it had 10% at one time, my friend Gary did the right thing, he exited his trades. I've learned my lesson and am no longer going to stick around for 15% on these trades. My goal is now 10%, it is part of my adjustment plan for 2010, more on that later.

So, Today's price action triggered my contingent orders to roll the 180 calls. I rolled 2x 180 to 187.5 call, and sold one of the 190 FEB calls I had in inventory. I have orders to continue to roll if we keep pressing higher. One nice thing was that the trade fixed itself with the contingent orders, I spent the day busy with work and didn't even look at the position all day long.