04/27 Daily Summary

Volatility just exploded Today, sharp move all across the table, Tomorrow will be a key day. Interestingly enough my Iron Butterfly was not totally damaged Today, the vols didn’t hurt as much as I expected.

04/27 NDX Iron Butterfly – MAY/10

Interestingly enough, Today’s violent move didn’t hurt my position that much. I’m down about 7%, and still stand a chance to reach 10%. I am seriously considering adding a calendar to add theta and further reduce vega exposure if I see a pullback opportunity Tomorrow. Need to see where we are. In the mean time the plan is updated to continue managing the position.