11/03 XLE Double Diagonal - Daily Update

Daily Update: XLE is behaving ok. Did not go crazy to the up-side like the major indexes and is still at the Break-Even level. Volatility dropped by quite a bit since I entered the trade, and yet I`m still doing ok.

If reaches the short strike tomorrow, I`ll come in and cut deltas even though it is not down 10%, the reason for doing so is that it is way too early for the index to reach the short strike, it means it is moving over 1 st. deviation for that first week of the trade.

Contingent Orders:
- Up-side adjustment: Buy 3x APR Vertical 44/48 CALL spread if XLE on or above 44 (Day order)
- Down-side adjustment: Buy 3x APR Vertical 33/28 PUT spread if XLE or or bellow 33.50 (Day order)
* Decrease imp.vol by -5% for up-side, and increase imp.Vol by +5% for down-side.
Dashboard: Notice how price is rubbing up against the 1 st. deviation curve on the volatility cone. 44 is way above that for the 1st week. Also worth noticing is the huge drop in implied volatility from the time I put the trade, this is not hurting my current P&L as much because it was a vega-neutral trade from the beginning.