Today I am glad to report there are no major changes. I'd like to report P&L improvement on all positions, however, because volatility actually increased, only a few positions posted small gains, the others had the daily theta erased by the increase in volatility.
One way or another, just another day in paradise. :)
Position's details:
07/29 IBM Calendar
07/29 RUT 30-day Iron Condor
07/29 MNX Iron Butterfly
07/29 SPY Double Diagonal
Wednesday, July 29, 2009
07/29 IBM Calendar
Posted a little bit of profits Today, still keeping the contingent orders. Since I have time, a quick note about my contingent orders for calendars:
Because I like to add calendars as adjustments *only* if we are closing at the adjustment point, my contingent order only triggers at the last 30 minutes of trading. So I use the feature in TOS to only start the order in the last half hour of trading. If prices are beyond the adjustment point, then the order will add the second calendar, otherwise, it won't do anything. I only do this because Calendars tend to have a less aggressive risk profile, so they can wait for adjustment, as Dan Sheridan says, I don't have to "jump on the hand grenade" right away (its his bad analogy, not mine) :)
Because I like to add calendars as adjustments *only* if we are closing at the adjustment point, my contingent order only triggers at the last 30 minutes of trading. So I use the feature in TOS to only start the order in the last half hour of trading. If prices are beyond the adjustment point, then the order will add the second calendar, otherwise, it won't do anything. I only do this because Calendars tend to have a less aggressive risk profile, so they can wait for adjustment, as Dan Sheridan says, I don't have to "jump on the hand grenade" right away (its his bad analogy, not mine) :)
07/29 RUT 30-day Iron Condor
No major change from Yesterday. RUT pushed lower, but as all other indexes, it found buyers at the end of the day.
Position's History:
07/28 RUT 30-day Iron Condor
07/27 RUT 30-Day Iron Condor
07/23 RUT 30-Day Iron Condor
7/22 RUT 30-Day Iron Condor
7/21 RUT 30-Day Condor *New*
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Position's History:
07/28 RUT 30-day Iron Condor
07/27 RUT 30-Day Iron Condor
07/23 RUT 30-Day Iron Condor
7/22 RUT 30-Day Iron Condor
7/21 RUT 30-Day Condor *New*
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07/29 MNX Iron Butterfly
No major change, P&L got a small decrease because the volatility increased Today. Nothing major to say, except that I have orders to cut delta if we move beyond the expiration B/E point to the up-side as noted in the TOS risk profile bellow:
Position's History
07/28 MNX Iron Butterfly
07/27 MNX Iron Butterfly
07/23 MNX Iron Butterfly
07/22 MNX Iron Butterfly
7/21 MNX Iron Butterfly
07/20 MNX Iron Butterfly
07/17 MNX Iron Butterfly
07/16 MNX Iron Butterfly *New*
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Position's History
07/28 MNX Iron Butterfly
07/27 MNX Iron Butterfly
07/23 MNX Iron Butterfly
07/22 MNX Iron Butterfly
7/21 MNX Iron Butterfly
07/20 MNX Iron Butterfly
07/17 MNX Iron Butterfly
07/16 MNX Iron Butterfly *New*
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07/29 SPY Double Diagonal
No major change in the Position Today. Once again, buyers came in at the end of the day and pushed prices higher, SPY posted a small pull back, but the position needs a lot more in order to recover to a decent level. Still hanging in there.
Position's History:
07/28 SPY Double Diagonal
07/27 SPY Double Diagonal
7/23 SPY Double Diagonal
07/22 SPY Double Diagonal
07/21 SPY Double Diagonal
07/20 SPY Double Diagonal
07/17 SPY Double Diagonal
07/16 SPY Double Diagonal Decision Making
07/16 SPY Double Diagonal
07/15 SPY Double Diagonal
07/14 SPY Double Diagonal
07/13 SPY Double Diagonal *New*
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