08/26 Daily Summary

The portfolio is recovering, I'm slightly negative at this point and depending on how the market behaves the next few days, It may start turning the table and getting into the profitable side. No change Today, except I added the 2nd half of the IBM calendar position.

One of the blog readers asked me what are the orange lines on the Volatility cone, they are the original expiration break-even for the position, at least that's what they are on the MNX Iron Butterfly. I didn't include them on the RUT position. This has been a busy week for me, so I didn't have much time to clean up the dashboard on the RUT trade and still need to put one together for the IBM trade.. Plan on doing it later in the week.

Position's Details:
08/26 IBM Calendar
08/26 RUT Iron Butterfly
08/26 MNX Iron Butterfly

08/26 IBM Calendar

I added the 2nd half of the position Today, we're still very much around the 120 strike, so I added the entire trade on the 120 PUT Calendar. If we move (up or down) I'll close some of the 120s to add the adjustment.
Previous Posting:
08/25 IBM Calendar

08/26 RUT Iron Butterfly

RUT Made a small recovery Today, adding the extra butterfly to increase theta is helping. If we move up I may have to roll the 560 Calls, will do that at the end of the day and not with a contingent order. For now, the contingent order is to buy a long call to hedge deltas, and by the end of the day I'll evaluate if it is time to start rolling the 560s

Previous Posting:

08/25 RUT Iron Butterfly

08/26 MNX Iron Butterfly

No major change Today, the position is collecting profits, which is always nice and very welcome. I've contingent orders to cut deltas if we move up or down.

Previous Posting:

08/25 MNX Iron Butterfly