Wednesday, December 1, 2010

12/01 Daily Summary




Today I rolled the remaining 2125 calls and add an extra butterfly to the position. The 2125 call delta was around 65 and it is time I add theta to the position so it can recover. I was traveling to Europe overnight and had to make these adjustments prior to end of day, they would be cheapper if I was awake at the market closing time, but I couldn't do it. It would not have triggered otherwise, and this is the second time I by pass the contingent orders on my trade, I felt good about it when I did, as we were breaking out of the range on all other indexes, NDX traded down at the closing, but I still think the sentiment is more to the bullish side.
We have been bouncing hard in a range, let's see what Tomorrow brings, I'm doing my best to keep my adjustment points far away from the price to avoid this whipsaw and constant adjusting the position. I have a feeling we'll have a quiet day Tomorrow because we'll be waitting the NFP to come out on Friday. Let's see what happens.