10/27 Daily Summary

The market was mixed most of the day Today, it pushed lower in the final minutes, but kept bouncing back and forth until then.. Volatility (VIX and RVX) increased by a bit Today, and that isn't helping the position yet. Then again, a small drop in volatility will make a huge difference here.

The 5-Day volatility spike registered another -0.5 extreme. If we back off, we'll be going back into the range, otherwise chances are we're looking at a down-trend starting up..

Position's Details:
10/27 RUT Iron Butterfly
10/27 MNX Iron Butterfly

Price Action & Forecasts:

10/27 RUT Iron Butterfly

I wasn't planning on doing any adjustments on the RUT trade by end of day Today, however, in the final minutes we pushed lower and I decided to trim off some deltas by using a debit PUT spread.

Now it is a matter of watching the volatility, once it backs off, even by a little bit, the trade will get a lot better!

10/27 MNX Iron Butterfly

MNX moved about 1 st. deviation Today, by end of day I wasn't ok with the deltas and decided to cut them in 1/2 buying a long put took care of it.

The T+14 Forecast still shows reaching the target with the caviat that if volatility comes back even by a tiny bit, the trade will recover really fast.