04/09 Daily Summary

My early morning assessment was partially correct, in any event, I took the precautions and that saved me some bucks as we moved up. I expected it to move higher, but not that high (over 1 st. Deviation)
http://gustavotrades.blogspot.com/2010/04/0409-morning-assessment-sideways-up.html
I am honestly starting to really enjoy looking and adjusting my trades early morning vs. Trying to do it at closing hour. Moving forward will start to track my morning assessments, to see how often I can nail it down properly. Today was an example where I got the direction right, but my assessment on the move’s strength was off. Then again, the final push happened in the final trading hour, until then we were not moving past 1 st. Deviation.

04/09 NDX Iron Butterfly

Here is what I have left on the trade:
1x APR 2025 call
1x APR 2000/2025 call credit spread
2x APR 1900/1825 put credit spread

I closed one of the 2000/2025 call vertical spreads, it got me to a relatively flat profile that I felt ok with. I honestly didn’t anticipate we would keep moving higher past the 1990 zone. Will see how it looks like on Monday.

04/09 NDX Fast Iron Butterfly (from 03/22)

I closed out of the trade Today after my morning assessment, it seemed like the best thing to do and avoid leaving room to let gains dissipate if we keept moving higher. Locked +1.55% gain, not much, but at least a gain.

04/09 NDX Fast Iron Butterfly (from 03/15)

Here is the inventory of what I have left on this position:

-2 APR 1900/1800 put credit spread
-1 APR 2025/2050 Call credit spread

After I evaluated we were likely to keep moving higher, I decided to cut and roll the condor, simplifying the position and cutting back on the negative deltas I had it exposed to. Going into the weekend with limited risk to the up-side.