01/11 Daily Summary

Today I entered my first OEX weekly iron condor, and have continued to peel off spreads out of the MNX Iron Butterfly. This week I start loading up my FEB contracts, and have to figure out the best way to do so given my work schedule.

Position's Details and Price action:
01/11 MNX Iron Butterfly
01/11 OEX Weekly Iron Condor

01/11 MNX Iron Butterfly

I continued to peel spreads off the trade by end of day Today. As a matter of fact, I really wanted to just exit, but didn't have much time at closing, So I hedged as best I could to go into Tuesday. Now have contingent orders to shut down the call side if we trade higher Tomorrow. Otherwise, will keep on riding.

I haven't touched the PUT spreads on the iron butterfly, will only move them if we start trading down in the next few days.

01/11 OEX Weekly Iron Condor

This is my first trial on the OEX weekly strategy. I got a fill for .45c and plan on letting it go till expiration. Have a contingent order to shut down if we get to a max loss (1.5x the cashflow).

Today is a very busy day for me, will post more details on this strategy as it was described to me by Alan in our California trading group 1. The condor I have is 540/545 Call & 515/510 Put.