07/10 Daily Summary

I finally got the Internet back on-line. The incident left me with a new found respect for the Desktop version of TOS. Their web-based platform is really basic and without the Risk Profile one has very little visibility, what makes it difficult to manage a complex option position. One way or another, it has the greeks and I was able to balance them at the end of day Today, now looking at the profile I see there wasn't a lot of damage, thanks for the market being indecisive for the past 3 days.

There is a chance to make paper profits next Monday, it all depends on the market, we'll see. One way or another, I'm ready to start allocating my AUG/09 capital, and will start with the Double Diagonals, most likely to use SPY and/or DIA for those.

Position's Summary:
07/10 SPX Iron Butterfly
07/10 RUT Iron Butterfly

07/10 SPX Iron Butterfly

Now, back in the driver's seat. I was able to manage the position with TOS' Web-based interface, however, that interface is horrible in terms of managing a complex position, you don't have the risk profile charts and it is really hard to see what you need to do as you plan for your next trading day. One way or another, the market was stable and it helped.

Going into the weekend, there is a good chance for profits, unless we resume the down-movement. As of now, my plan is to exit on Monday and count my learning from these two trades.

Position's history day-by-day:
07/09 Daily Update
07/08 Daily Update
07/07 SPX Iron Butterfly
07/02 SPX Iron Butterfly
07/01 SPX Iron Butterfly
06/30 SPX Iron Butterfly
06/29 SPX Iron Butterfly
06/25 SPX Iron Butterfly
06/24 SPX Iron Butterfly
06/23 SPX Iron Butterfly
06/22 SPX Iron Butterfly

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07/10 RUT Iron Butterfly

I sure am glad to have Internet back on. Even better to see that the two iron butterflies got a gift from the market. We had 3 days around the 480 price level, this gave us the theta we needed to get back to B/E, now with the weekend, the chances of being profitable Monday are good.

We will be fine on Monday unless we drop 1 or more standard deviations. In any event, I'll exit these positions on Monday, as it is time to focus on LIVE AUG/09 trades.


Position's history day-by-day:
07/09 Daily Update
07/08 Daily Update
07/07 RUT Iron Butterfly
07/03 RUT Iron Butterfly
07/02 RUT Iron Butterfly
07/01 RUT Iron Butterfly
06/30 RUT Iron Butterfly
06/29 RUT Iron Butterfly
06/25 RUT Iron Butterfly
06/24 RUT Iron Butterfly
06/23 RUT Iron Butterfly

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