Option Trading: 08/13/09

Thursday, August 13, 2009

08/13 Daily Summary

Nothing major Today. I entered a new MNX Iron Butterfly for SEP/09 contracts, this is the first time I have an overlap between the two months. I've been out sooner, but this time the AUG/09 trade is making me work for the money.

The IBM Calendar is doing fine, and I plan on exiting another portion of it Tomorrow.

Detailed Positions:
08/13 MNX Iron Butterfly - SEP *New*
08/13 IBM Calendar
08/13 MNX Iron Butterfly

08/13 MNX Iron Butterfly - SEP New

With 35 days to go on the SPE contracts, I started the SEP/09 MNX Iron Butterfly. This is a brand-new trade, there is not much to say abou it. One thing I am considering doing is expanding my tracking spreadsheet to plot daily variations of the Theta, Delta and Vega. Let's see.

08/13 IBM Calendar

IBM moved higher, but the calendar kept collecting profits. I'm likely to exit at least 1x 120 Calendar Tomorrow, may even take the whole trade off the table, it depends on where we close.

Position's History:
08/12 IBM Calendar
08/11 IBM Calendar
08/10 IBM Calendar
08/07 IBM Calendar
08/06 IBM Calendar
08/05 IBM Calendar
08/04 IBM Calendar
08/03 IBM Calendar
07/31 IBM Calendar
07/30 IBM Calendar
07/29 IBM Calendar
07/28 IBM Calendar
07/27 IBM Calendar *New*

Return to home

08/13 MNX Iron Butterfly

MNX moved higher again, still contained within the previous days' range, I believe we will stay within this range, maybe move lower Tomorrow. One way or another, I have an order to cut deltas once again if we move above the range and into 164. The trade is still borderline within the 1 standard deviation in the volatility cone..