08/03 Daily Summary

Today was not a pretty day for me. Had two trades hit their stop loss points, I was able to get out of the SPY Double Diagonal, but not able to get out of the RUT Iron Condor. I plan on keep peeling off the RUT position Tomorrow.

I also continued to adjust the MNX Iron Butterfly: I rolled the last 150 Call with a debit spread. The trade still has some "fight" in it. I also turned the IBM calendar into a double-calendar by adding the 120 PUT calendar Today.

Position's Details:
08/03 IBM Calendar
08/03 RUT 30-Day Condor
08/03 MNX Iron Butterfly
08/03 SPY Double Diagonal

08/03 IBM Calendar

I added the 120 Calendar Today. Plan on rolling the 115 into the 125 if we keep on moving higher, let's see how it goes.

Position's History:
07/31 IBM Calendar
07/30 IBM Calendar
07/29 IBM Calendar
07/28 IBM Calendar
07/27 IBM Calendar *New*

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08/03 RUT 30-Day Condor

The trade bit the dust Today, RUT pushed higher and hit max loss. I could not get it all out of the table, so I'm exiting it in phases, Took the short 560/570 calls first, then will remove more contracts Tomorrow. I won't be able to watch the markets, so if it keeps going higher, it will slip from my max loss, hopefully I'll be able to exit mid-day Tomorrow.


Position's History:
07/31 RUT 30-Day Iron Condor
07/30 RUT 30-Day Iron Condor
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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08/03 MNX Iron Butterfly

This trade is still hanging tough. It is down, but only 1/2 of the max loss, and there is still a lot of things I can do if we keep moving higher. My plan is to stay with MNX in this journey, hopefully it will give up moving up before the end of my bullets..

I rolled the last 150 CALL, used a debit spread to buy back the 150 and sell the 162.5. Deltas are in check, and I plan on further hedging if we keep moving up Tomorrow.

Position's History
07/31 MNX Iron Butterfly
07/30 MNX Iron Butterfly
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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08/03 SPY Double Diagonal

Sadly, SPY hit its max loss point Today. I first hedged the position with a contingent order and then closed the trade at the end of the day. It was fairly easy to exit orderly once the position was hedged.

The trade took a huge up-side swing, as one can see in the risk profile. In the end couldn't stay afloat.


Position's History:
07/31 SPY Double Diagonal
07/30 SPY Double Diagonal
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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