Started the MAY journey with the NDX Iron butterfly.
Wednesday, April 21, 2010
04/21 NDX Iron Butterfly – MAY/10
Started the May trade this morning, as the market was trading higher but seemed to be looking to pull back. Turns out it did pull back a little. I have contingent orders to soften the deltas by adding the long MAY call if needed at 2047, otherwise will ride it without the extra call.