01/06 Daily Summary

Up-side wave cycle seems to be loosing some steam, I plan on entering a bearish Iron Butterfly on NDX if we close on or bellow 1860 Tomorrow. I'm watching and eager to play a down-side wave on the 5-day volatility chart. Have started to condorize my MNX Iron Butterfly, it improved Today and if we keep going down a bit further it will be great!

Seems that missed out on the OEX weekly this week, no problem, the good thing about the weekly trade is that the next week is just around the corner..

Position's details and price action chart:
01/06 MNX Iron Butterfly

01/06 MNX Iron Butterfly

Things are improving once again. At the end of day I took my lunch break and rolled my last 180 call, the deltas were still too high. I have orders (short trigger) to roll the 185 calls now, this will continue with the condorizing process. I plan on continuing to roll the short calls by end of day Tomorrow.