05/25 NDX Iron Butterfly – JUN/10

Ok, as we gapped down this morning I was observing the NDX and its price action, it got to about 4 points from my lower adjustment (1950), then started to bounce from there. Rather than touching the position early in the morning I’ve decided to let it ride for the extra day... As it turned out, this as a good choice as we traded to just about the same level as we closed Yesterday. With the additional Volatility crush I got to 10% on my trade and dashed for the exit! :)
Not bad, get in Friday morning, ride through the weekend, cash out 10% by Tuesday (3 days in the market) I am very grateful I got in the position this month!

05/24 NDX Iron Butterfly – JUN/10

Today is my Birthday and I think the market actually handed me a gift! Let’s call it the volatility gift! The position is around 7% profit after just one day of trade! I love it, and as a matter of fact, depending on how it looks Tomorrow I might tighten it up a bit to reduce my overall exposure to delta and vega. Normally I wouldn’t touch it, but given the recent market condition I think it is worth taking a conservative approach with gains.