04/01 Daily Summary

Sorry but my Thursday night and Friday were super busy, posting what happened on Thursday, no major change except that the down-draft really helped the positions.. I took ½ of the 1950 iron butterflies from one of my positions, looking for maximum theta from this point on, also gamma risk starts to come up so will have to manage very closely these trades. Plan to enter a new Iron butterfly (NDX MAY) and Iron Condor (OEX weekly) next Monday.

04/01 NDX Iron Butterfly

No change Today, still on waiting mode for the market to take a break and go down for a bit.

04/01 NDX Fast Iron Butterfly (from 03/22)

Made no change on the position Today, watching theta increase.

04/01 NDX Fast Iron Butterfly (from 03/15)

As we traded lower I decided to close 1 of the 1950 iron butterflies, this locked some of the profits on that butterfly and took the edge out of the up-side risk by reducing some of the negative delta.