08/14 Daily Summary

This is a short posting, as I had a long day. Current positions got the benefit of Today's price action in the markets. I specially appreciated that in the MNX Iron Butterfly for AUG.

I'll be cleaning up the blog and looking over some of my past trades this weekend.

Detailed Positions:
08/14 MNX Iron Butterfly - SEP
08/14 IBM Calendar
08/14 MNX Iron Butterfly

08/14 MNX Iron Butterfly - SEP

This is the second day on the trade, not much to do here. My plan is to leave the position alone for at least 1 week. Will only touch it if we start approaching the expiration break-even levels in a fast pace. Then I'll start cutting deltas a bit sooner than 1 week.

I'm creating a new Dashboard view, this one will include any adjustments made to the original position, as well as some of the greeks.

Position's History:
08/15 MNX Price & Volatility Study
08/13 MNX Iron Butterfly - SEP *New*

Return to home

08/14 IBM Calendar

I took out 1x 120 CALL calendar, and now have only 1/2 of the position going through the weekend. I figure it is a good idea to book some profits, specially after such a smooth sailing on the trade. So, I expect the goal to be reached early next week.

Position's History:
08/13 IBM Calendar
08/12 IBM Calendar
08/11 IBM Calendar
08/10 IBM Calendar
08/07 IBM Calendar
08/06 IBM Calendar
08/05 IBM Calendar
08/04 IBM Calendar
08/03 IBM Calendar
07/31 IBM Calendar
07/30 IBM Calendar
07/29 IBM Calendar
07/28 IBM Calendar
07/27 IBM Calendar *New*

Return to home

08/14 MNX Iron Butterfly

I appreciated this down-move Today. Now it is a matter of collecting the weekend of theta and by end of day Monday looking for the exit. Today I rolled all my short contracts further out of the money, that helped me with my Gamma risk going into the expiration week.

Position's History
08/13 MNX Iron Butterfly
08/12 MNX Iron Butterfly
08/11 MNX Iron Butterfly
08/10 MNX Iron Butterfly
08/07 MNX Iron Butterfly
08/06 MNX Iron Butterfly
08/05 MNX Iron Butterfly
08/04 MNX Iron Butterfly
08/03 MNX Iron Butterfly
07/31 MNX Iron Butterfly
07/30 MNX Iron Butterfly
07/29 MNX Iron Butterfly
07/28 MNX Iron Butterfly
07/27 MNX Iron Butterfly
07/23 MNX Iron Butterfly
07/22 MNX Iron Butterfly
7/21 MNX Iron Butterfly
07/20 MNX Iron Butterfly
07/17 MNX Iron Butterfly
07/16 MNX Iron Butterfly *New*

Return to home page

08/13 Daily Summary

Nothing major Today. I entered a new MNX Iron Butterfly for SEP/09 contracts, this is the first time I have an overlap between the two months. I've been out sooner, but this time the AUG/09 trade is making me work for the money.

The IBM Calendar is doing fine, and I plan on exiting another portion of it Tomorrow.

Detailed Positions:
08/13 MNX Iron Butterfly - SEP *New*
08/13 IBM Calendar
08/13 MNX Iron Butterfly

08/13 MNX Iron Butterfly - SEP *New*

With 35 days to go on the SPE contracts, I started the SEP/09 MNX Iron Butterfly. This is a brand-new trade, there is not much to say abou it. One thing I am considering doing is expanding my tracking spreadsheet to plot daily variations of the Theta, Delta and Vega. Let's see.

08/13 IBM Calendar

IBM moved higher, but the calendar kept collecting profits. I'm likely to exit at least 1x 120 Calendar Tomorrow, may even take the whole trade off the table, it depends on where we close.

Position's History:
08/12 IBM Calendar
08/11 IBM Calendar
08/10 IBM Calendar
08/07 IBM Calendar
08/06 IBM Calendar
08/05 IBM Calendar
08/04 IBM Calendar
08/03 IBM Calendar
07/31 IBM Calendar
07/30 IBM Calendar
07/29 IBM Calendar
07/28 IBM Calendar
07/27 IBM Calendar *New*

Return to home