Today's consolidation was a nice gift! I appreciate that! Looking forward to a few more days just like it.. I fixed Yesterday's mistake I had made on the RUT position and Today its P&L started opening up. Both trades are progressing along nicely.
Position's Details:
09/29 RUT Iron Butterfly
09/29 MNX Iron Butterfly
Tuesday, September 29, 2009
09/29 RUT Iron Butterfly
Yesterday I made a mistake, Today, rather than feeling sorry for myself, I went in there and fixed it! I sold both the extra NOV Put and Call I had in the portfolio, this provided me with the same delta exposure, but a lot more theta to work with. Because I did it early in the morning, I was able to capture most of that daily theta by end of Day. It also helped that the market didn't move much Today!
09/29 MNX Iron Butterfly
Position is progressing nicely! Notice the up-trend in the P&L chart, that is always nice to have! Theta is good, gamma and delta under control, looking forward to a few extra days of quiet market action.
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