07/30 Daily Summary

If I account for my total portfolio change between Yesterday and Today, there wasn't much of a change in P&L, however, there were several changes in a few of my positions, hopefully those changes will pay off in the longer run.

I adjusted the RUT Iron Condor and the MNX Iron Butterfly, the SPY Double Diagonal and IBM Calendar had no changes made to them Today. All and all, I'd say this up-side move is showing weakening signs, but that's only based on candle patterns and the sentiment can always shift overnight.

Detailed Positions:
07/30 IBM Calendar
07/30 RUT 30-Day Iron Condor
07/30 MNX Iron Butterfly
07/30 SPY Double Diagonal

07/30 IBM Calendar

IBM was pushing higher Today, I thought it would end up closing at my adjustment point, but as it turns out, it moved back down and finished the day without forcing an adjustment. As a matter of fact, because it finished the day with a bearish candle formation, I'd say we're due to pulling back Tomorrow.

Position's History:
07/29 IBM Calendar
07/28 IBM Calendar
07/27 IBM Calendar *New*

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07/30 RUT 30-Day Iron Condor

RUT hit my adjustment point at 560, and as it was trading at those levels I started to peel off the PUT spreads. I removed the extra PUT insurance and also got 1x 470/460 PUT spreads off for .15c (80% of its initial credit). I didn't take the others because I didn't have a lot of time to work them, it wasn't filling as a spread so I had to work as individual orders.

Position's History:
07/29 RUT 30-day Iron Condor
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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07/30 MNX Iron Butterfly

MNX made a new high Today, I had a contingent order to flatten the trade if we hit 162.5, which we did. At the day's closing, I realized that going into another day with flat deltas was not the best option, specially after we faded from the top in such a strong manner.

I rolled another 150 CALL contract, and sold one of the extra SEP long Calls. This brought me back to being delta negative and increased my theta. If we move back up Tomorrow I'll deal with it, but my best guess is that we'll either stay put or pull back Tomorrow.


Position's History
07/29 MNX Iron Butterfly
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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07/30 SPY Double Diagonal

The trade got a bit closer to its stop loss Today, I'm glad we backed off at the end of the day, and I'm hopping we can make it through the weekend and pull back next week, let's see. At this point, it is only a matter of hanging in here..

Position's History:
07/29 SPY Double Diagonal
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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