11/04 Daily Summary

I didn't follow the markets intra-day, and could not watch the last hour of trading, so I missed all that activity. As far as the income trades are concerned, I am supposed to miss them :) So, one less day of stress in my life. The positions are recovering, and the 5-day charts are showing that the push down is easing off.

Position's Details
11/04 MNX Iron Butterfly
11/04 NDX Iron Butterfly - Paper

Price action charts and Forecasts:

11/04 MNX Iron Butterfly

Sold the NOV Put as the market moved Higher, I may need it again if we drop down again Today, getting to the point in time where theta kicks in, so if we stay put for a few days there should be lights at the end of the tunnel.

11/04 NDX Iron Butterfly - Paper

The position is doing good, I've started to consider doing a strangle and buy back one of the short PUT and CALL contracts, that would flatten the trade up but still provide theta to keep on making money through the cycle.