02/03 Daily Summary

Another day without touching the positions, this time we kept moving higher on the NDX/MNX, however, the other indexes are either consolidating or pulling back. I'm not sure we're back in bullish environment, so I'm delaying getting rid of those Puts on my Iron Butterflies (for better or worse). Sometimes you just have to make a decision and go with it, if the market proves me wrong, it won't be the first time :)

02/03 MNX Iron Butterfly

Similarly to the NDX, I didn't touch the trade, one because I didn't have time at end of day, two because I was not fully convinced on the up-side move. I have contingent orders in place to cut some of the Puts loose if need be.

02/03 NDX Iron Butterfly

A bit of an up-side push on the NDX Today, I was not able to change the trade by end of day as I was really busy, but then again, I was not fully convinced on this up-side move, specially because the other indexes are either pulling back or in an indecision pattern. Have contingent orders to smooth the up-side if we continue to move higher Tomorrow.

02/03 OEX Weekly Iron Condor

A small retreat on OEX made a big difference on the trade, it is looking better. Then again, this strategy is a set it and forget it, so we let it work itself out.