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Today was a great trading day. The US Stock market was quiet and the option trades received their time decay. The morning's day trading was also profitable, this is really great considering it was a specially challenging morning in the FOREX market, there was a lot of indecision in the currency market this morning. It seems that's the theme everywhere these days: Indecision.
For my Brazilian friends: I translated a new Brett Steenbarger's posting related to questions one should ask at the end of the trading day.
Here is a summary of Today's positions:
Friday, June 26, 2009
06/26 MNX Iron Butterfly
Decided to not touch the trade at the end of day. MNX pushed a bit higher, but its 1-hour chart was showing real weakness at the top. As of now, theta:delta ratio is about 1:1, and going into the weekend this will allow profits to accumulate. It will be specially sweeter if we go down on Monday, otherwise I'm ready to hedge the position and keep some of the weekend's profit.
Position's history day-by-day
06/26 SPX Iron Buttefly
Added a Jul/09 PUT vertical spread (1x 850/830) to cut a few deltas and increase theta. Wanted to add more theta to the position. Noticed that Yesterday's risk profile was once again unrealistic. This may be due to how wide the spreads are on SPX.
Position's history day-by-day:
Position's history day-by-day:06/26 RUT Iron Butterfly
Added a PUT vertical spread (2x 470/440) to increase Theta and cut some Deltas on the trade. I want to maximize time decay over the weekend, I have plenty long AUG CALLs to sell if we start dropping next week and if we move higher the delta will be flat enough. 
Position's history day-by-day:
06/25 Daily Summary
Commentary and Updates: US Markets moved higher, logging over 1 standard deviation on most indexes and ETFs. I closed the RUT 30-Day Iron Condor with about 10% profit and had up-side adjustments made on all my iron Butterflies.
I'll start to include this summary post every day, this will make it easier to reach each position. It is faster to click on the links bellow than it is to scroll down on the blog to find them. I hope this makes it easier for readers (myself included). I'm also going to start updating each position with links to their full history, this way one can easily see what has been going on for each trade.
Details about Each Position:
I'll start to include this summary post every day, this will make it easier to reach each position. It is faster to click on the links bellow than it is to scroll down on the blog to find them. I hope this makes it easier for readers (myself included). I'm also going to start updating each position with links to their full history, this way one can easily see what has been going on for each trade.
Details about Each Position:
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