Not much else going on for this trade, will let the remaining contracts expire as they are far both out of the 2 st. Deviation range for this week. All and all, the trade lost about 13% ROI. I’m starting to keep an eye out for the AUG contracts, will wait for a good entry time (big down-day or so) between now and the 30 days till expiration, which is my line in the sand to get in. Any Sheridan mentoring student out there? What are you guys thinking for AUG? Should we get back in the water sort of speak?
3 comments:
I am a Sheridan Student. Looking at IBM butterflys. for August. Also flys on XLF, and MSFT. Staying away from Indexes for awhile because of too wide deviation moves daily.
Pauly
Hey Pauly, thanks for the feedback! I've been consistent on the NDX butterflies, right now my plan is to wait for a pull back between now and next Monday and go for it..
I'm also adding a few covered calls to the long-term part of my portfolio.
Thanks!
Gustavo
Good luck, yes I am looking at covered calls on the strongest stocks I can find at a decent price. I also have been doing flys in the OEX but boy do you have to be patient to get your execution. The other negative is that if the market is moving fast execution can be a issue in the OEX. I have done alot of calanders in the SPX and that is starting to get tempting again with the vols coming out. If the RUT continues to move I may do synthetic covered calls in the IWM or synthetics in the QQQ's. LOL Good luck in your NDX,
Yes as Dan says you dont want to stay in the jungle too long! Especially in these markets. LOL Pauly
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