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.

11/03 RUT High Prob Condor - Daily Update

Daily Update: I wish I could say, nothing happened Today. Not quite. We got the 2nd day of 2 st. deviations this week. I discussed the trade with mentors at Sheridan and they proposed hedging it around 405. I`ve looked at various scenarios including hedging.

My decision is to stick with the original plan. For better or worse, I`m going to stay still and not dive into cutting deltas right now. I`ll see where it closes on Friday and spend some time thinking it over during the weekend. the CALL-side stop loss is about 2.5 st. deviation from the current price, if RUT gets there Tomorrow, (Friday, wich is usually a slow day) I`m ordering a steroids test! :)

Contingent Orders:
- Buy CALL spreads for .10c (GTC order)
- Buy PUT spreads for .10c (GTC order)
- Stop Loss @ or bellow 310, or @ or above 422 (Day Order)**
** Increase Imp.Vol by +5% to estimate down-side, Decrease Imp.vol by -5% to estimate up-side

Here is the current profile and dashboard.

I made a mistake when adjusting during the down-swing, Cut too many PUT spreads and I miss them right about now. Lesson learned. Nevertheless, this trade has gone through some major one-day swings, see the deviation picture on the lower right corner, quite a ride.