01/26 MNX Iron Butterfly

The market has yet to show its hands, and I've kept the trade without theta for too long. Today I did a cut and roll on my PUT spreads, plan on adding more theta Tomorrow, specially if we keep going down.

01/26 OEX Weekly Iron Condor

Trade is in very good shape, nothing needs to be done.

01/25 Daily Summary

Today the market took a break. My Iron Butterflies enjoyed the day of recovery and rest :) I decided against touching the trades, as I want the market to give further indication of what it wants to do before I start acting on it.

Entered the weekly OEX Iron Condor, had a harder than usual time to get fills, hopefully it doesn't become an issue for this strategy.

Position's details and Price action:
01/25 MNX Iron Butterfly
01/25 NDX Iron Butterfly
01/25 OEX Weekly Iron Condor

01/25 MNX Iron Butterfly

Got a bit of P/L recovery, mostly due to volatility, since we're in a decision point in the market, I decided to roll one more day without adjusting the trade any further. I want the market to show its hands before I do anything drastic on the down-side. Looking at the charts, if we break Friday's low I'll spur into action.

01/25 NDX Iron Butterfly

Today the market took a breath and retraced a little bit from the past 2 days of sell off. This brought up great life to the NDX Iron Butterfly, it recored nicely. I decided not to touch the position, I've been adjusting pretty much every day since entry, so Today I gave it a break.

01/25 OEX Weekly Iron Condor

Today I had harder than usual time getting fills for the OEX weekly Iron Condor. I had to enter one single order at a time, and it seemed I was the only contract out there at certain times in the day. Here is the position, the contingent orders are in place, now it is only a matter of monitoring.

01/23 A Must read

This collection of Postings from Brett Steenbarger is a must read:

http://traderfeed.blogspot.com/2010/01/trading-psychology-best-of-traderfeed_23.html