11/06 Daily Summary

Didn't do much during the day, I noticed the early-morning up-side pressure slowed down and realized we weren't going to push much further, that was easy to see on the VerticalSolution charts.

By end of day I rolled my short calls on both NDX and MNX iron butterflies. I noticed the 5-Day volatility chart shows a reversal from the down-side to the upside, that could mean trouble in the last week of the trade. Hopefully it won't be an aggressive move to the upside.

Position's Details:
11/06 MNX Iron Butterfly
11/06 NDX Iron Butterfly - Paper

Price Action & Forecasts:

11/06 MNX Iron Butterfly

The trade recovered a little bit, still underwater. I rolled the short 167.5 Calls to 172.5, that cut my deltas and increased the much needed theta. Still in the game, looking for a few quiet days next week.

11/06 NDX Iron Butterfly - Paper

I did a vertical roll on my NDX Iron Butterfly, didn't quite move all 5 spreads, only 4. Then I sold the long DEC CALLS I had. One thing happened when I was selling those calls: One of the sell orders wouldn't get accepted, it said I didn't have enough marging to sell the contract. I'll have to double-check with TOS to find out why, since it was a contract I already own, I should be able to sell it without changing my margin requirements. Live and learn here...