Sunday, October 17, 2010

OCT 10 NDX Iron Butterfly - Day-by-day Review

Trade Result: +2%

Started the trade with less than optimum position, since I didn't have Internet connection at the hotel in Geneva and had very limited time to evaluate and prepare with contingent orders. When the market moved against me, I had 1 set of contingent orders missing and therefore the position went further into the red than I anticipated. By the 27th, I put together a game plan to recover, did another cut and roll and add the extra butterfly, it took a few days but the volatility finally dropped on the OCT contracts and I started seing the money early in October.

Of course, by the 5th of October I got hit with a huge whipsaw, the market stroke the down-side adjustment one day and flew up 3+ st. deviation the very next day, making me hege with a long call and put, this reduced my rate of recovery, yet by then I was already locking in profits.. By the last week we kept moving up and I ended up closing all my call contracts, locked a few bucks this month, certainly better than taking the loss as it was looking like by end of September.

9/20 Daily Summary
9/27 Daily Summary
9/27 Game Plan
9/28 Daily Summary
9/29 Daily Summary
09/30 Daily Summary
10/1 Daily Summary
10/4 Daily Summary
10/5 Daily Summary
10/6 Daily Summary
10/7 Daily Summary
10/08 Daily Summary
10/11 Daily Summary
10/12 Daily Summary
10/13 Daily Summary

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