01/12 Daily Update

Today was an active day, I was able to enter a directional NDX butterfly to the bearish side and also finished exiting the MNX Iron Butterfly. The best thing is that I was able to do it all in about 30 minutes during lunch break. By planning my moves ahead of time I know exactly what to do (if anything) and allows me to take quick and decisive action, which in my mind is essential to keep the trading business running.

Position's Details:
01/12 MNX Iron Butterfly
01/12 OEX Weekly Iron Condor
01/12 NDX Directional Butterfly

01/12 MNX Iron Butterfly

Continued to peel off the contracts, my plan is to let the remaining contracts expire, I have alerts set up at the 1 st. deviation level at expiration. If we hit those levels I will jump in and take the short contracts out.

01/12 OEX Weekly Iron Condor

So far so good, still within the 80% probability of success. The Iron Condor is protected with a STOP order if it hits my stop loss point.

01/12 NDX Directional Butterfly

This is a strategy I've tested late last year and decided to roll out live in a small position size to begin with. The goal is to use the 5-day volatility chart to indicate when to start a bearish or bullish position. This is a bearish trade instead of a non-directional approach.

I have set up a stop/limit order, but am not 100% sure it will execut properly, so will set it up as an alert on TOS and work with a hedge to exit if needed.