Started a new monthly position, the NDX Iron Butterfly strategy. I am following Dan Harvey’s updated rules. As I started this trade I did not add the long call to smooth deltas right away, the reason is that the deltas are fairly small. If we trade higher (1935) Tomorrow, making new highs, then I’ll cut the deltas in half. Other than that, will continue to manage as business as usual.
2 comments:
Why do you sometimes start some of your old mnx and this months ndx iron butterfly positions as a very near iron condor.
No specific reason, in this case I am following Dan Harvey's guidelines. I think this gives the trade a bit more room to roam, plus your short strike doesn't get immediately in the money, so when you adjust they don't cost as much..
This month I'm not trading the MNX, am migrating to the NDX now.
Take care!
Gustavo
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