Sunday, November 27, 2011

11/25 Weekly Summary

The short week for Thanksgiving holidays was harsh on my positions, we had a lot of down-side pressure and most of the trades took a hit on P/L. I added another Iron Butterfly to the NDX trade, this is the adjustment I have decided to do in order to keep this trade as close to no-touch as possible. On the bright side, the volume was very light and due to this being a Holiday week a lot of the heavy traders were not in this action, so let's see what next week bring.

Saturday, November 19, 2011

11/18 Weekly Summary

Looks like the market took a bearish instance this last week, in the past 10 days we had a few 1+ standard deviation days to the negative side and very few positive days to show for on both the daily and the 5-day spike charts. On the portfolio the positions are doing well with no need to adjust anything this week. Only adjustment in sight for the NDX is to add another butterfly if we hit the down-side adjustment level.

Saturday, November 12, 2011

11/11 Weekly Update

Last Monday, Nov 7th I have closed the NOV cash secured puts and reloaded with the DEC contracts. I also started a NDX iron butterfly and am planning to trade it with a very simple adjustment strategy: add another butterfly at the top or bottom if the market moves up or down to the outside range of the butterfly, the plan is to go for about 10% of the total position size and so far I have only 1/4th of the position loaded.

Notice NDX trading in wide swings on a daily basis, the key difference is that these swings are not moving on a trend, it has been moving in a zig-zag sideways mode.