I added the second half to the MNX iron butterfly and the contingent orders triggered on the RUT position, all and all it was a quiet day for me. I'm currently down but it is really early on the trades, so there is a lot of time to adjust things.
Position's Details:
09/16 RUT Iron Butterfly
09/16 MNX Iron Butterfly
Wednesday, September 16, 2009
09/16 RUT Iron Butterfly
I added a long contract to help control the deltas at 610, then at 615 a second hedge was released. The position is flat for now and the up-side risk is acceptable. If we keep going higher I plan on adding a small butterfly to keep theta on the trade.
09/16 MNX Iron Butterfly
I'm actually glad I ended up not loading the 2nd half of the position Yesterday. The market pushed higher Today and I added the second half and as it turns out the position is in better shape than the RUT.
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