06/22 Daily Summary

I apologize for not posting Yesterday, I was traveling from Salvador/Brazil to Sunnyvale/California and after such a long journey I had no energy left to post on the blog. I was barely able to create contingent orders for Today. To be trully honest, I'm glad they were not needed Today, because I had little faith in my mental state Yesterday to make sure the contingent orders were good :)

By the end of day Today I felt that it was time to cut a few deltas from both my positions, I used different approaches on the RUT and MNX trades, you can see on the details:

Position's Details:
09/22 RUT Iron Butterfly
09/22 MNX Iron Butterfly

09/22 RUT Iron Butterfly

I did a vertical roll to adjust my position Today. I noticed that we were leaning short deltas and didn't want to add a long CALL, as it would simply smash my theta. So I moved the short 610 Call to the 620 strike level. While this might have been a bit preemptive based on Dan's rules, I felt it was ok to do so.

Notice on the 5-Day Vipes chart that we might be slowing down on the upward pressure, notice that for the past 2 days bars. That being said, there has been very little "down days", as we seem to find buyers every time we move lower, so I have to keep on playing the non-directional approach.

09/22 MNX Iron Butterfly

At Today's closing I felt the need to control the deltas, they were getting out of hand, so I added a long NOV contract. Cut delta from -56 to -33, keeping it around the 1:1 ratio. I didn't want to go overboard here.

I notice on the 5-Day VIPES graph that we still have upward pressure. This seems to be slowing down on the RUT profile, however, notice we only had "up" days for almost 2 weeks now.