EWZ Hit my first adjustment level Today. At 45.30 I moved 2 contracts from 44 to 47, cutting the Delta in half and giving now more space for the trade to work. Next adjustment will be to move the remaining contract if we hit 47.
I was confused Yesterday regarding Tighten the Noose, I then evaluated my strategies and decided to do so if I hit 70% of my profits. To make the decision process easier I added the levels to my P&L chart on the dashboard.
Wednesday, April 29, 2009
4/29 OIH 30-Day Condor
Today OIH contracts got changed due to a dividends distribution. I'm not sure how this affect my position in terms of liquidity on the new contracts. I'll stick with the normal plan and see where it takes me.
I also added the TTN levels to my P&L chart in the dashboard, this eliminates the doubt and facilitates my decision making in terms of when it is time to Tighten the Noose on the trade to lock in profits.
I also added the TTN levels to my P&L chart in the dashboard, this eliminates the doubt and facilitates my decision making in terms of when it is time to Tighten the Noose on the trade to lock in profits.
4/29 MNX 45-Day Condor
This position is taking just about the same ammount of up-side pressure as the RUT condor, yet the P&L seems to be in much better shape. Today I was able to close the Short PUT contracts for 5c. I have a running order on the Long PUT contracts, who knows, if the market sells off I might be able to get a hit on it.
There is a good chance (over 70%) it will be fine Tomorrow.
There is a good chance (over 70%) it will be fine Tomorrow.
04/29 RUT 52-Day Condor
The position is still on the board, yet it has been rough around the edges. Hard to take such a constant up-side pressure, however I made a plan and am sticking to it. There is still some chance (40%) we'll be fine Tomorrow. I usually see a reversal from the direction the day after FED announcement's, let's see if it happens Tomorrow.
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