Today's price action brought my positions down a bit, total portfolio value is down -5%, not a big deal, considering I still have money to deploy next week (IBM Calendar). For now, I plan on enjoying the weekend, getting some rest and coming back ready next week!
Position's Details:
08/21 RUT Iron Butterfly
08/21 MNX Iron Butterfly
Cheers!
Gustavo
Friday, August 21, 2009
08/21 RUT Iron Butterfly
RUT made its trip to the edge of the expiration graph. I decided not to jump the gun and open a new butterfly just yet. My plan is to do so if we continue moving up and get to 490 next week.
08/21 MNX Iron Butterfly
The good news is, we're back in the center. The bad news? Over-adjusting on the down-side cost me some money fixing things up. On the bright side, I had the foresight to start leveling things up since Yesterday, otherwise we'd be down twice as much Today. The trade only need a few quiet days to recover, let's see what next week brings.
See Yesterday's:
08/20 MNX Iron Butterfly
Thursday, August 20, 2009
08/20 Daily Summary
Made few adjustments on MNX, didn't toucht the RUT position. Looking forward to the weekend. MNX AUG trade going through expiration without major risk.
Position's Details:
08/20 RUT Iron Butterfly
08/20 MNX Iron Butterfly
Position's Details:
08/20 RUT Iron Butterfly
08/20 MNX Iron Butterfly
08/20 RUT Iron Butterfly
RUT edged higher Today, I have contingent orders to cut delta in 1/2 if we move up to 675 Tomorrow. Nothing alarming Today..
Position's History:
Position's History:
08/20 MNX Iron Butterfly
Today MNX basically got back to where it was when I entered the trade. I realized I had sold the SEP extra call too soon, and ended up buying another SEP call Today. The main reason for buying this call was to controll the Gamma exposure. The trade was already building up gamma, and the OCT contracts usually have lower gammas.
It is back to B/E, once again, I went overboard when I adjusted to the down-side, I flattened the deltas too hard, next time will do it gradually, cut in 1/2 first and then go from there. Because of its high gamma, the MNX tends to flip back and forth on the deltas, and if you flatten it out, you may find yourself in my position, going back to where it was, but without any profits to show for.
Position's History:
08/19 MNX Iron Butterfly - SEP
08/18 MNX Iron Butterfly - SEP
08/17 MNX Iron Butterfly - SEP
08/14 MNX Iron Butterfly - SEP
08/15 MNX Price & Volatility Study
08/13 MNX Iron Butterfly - SEP *New*
It is back to B/E, once again, I went overboard when I adjusted to the down-side, I flattened the deltas too hard, next time will do it gradually, cut in 1/2 first and then go from there. Because of its high gamma, the MNX tends to flip back and forth on the deltas, and if you flatten it out, you may find yourself in my position, going back to where it was, but without any profits to show for.
Position's History:
08/19 MNX Iron Butterfly - SEP
08/18 MNX Iron Butterfly - SEP
08/17 MNX Iron Butterfly - SEP
08/14 MNX Iron Butterfly - SEP
08/15 MNX Price & Volatility Study
08/13 MNX Iron Butterfly - SEP *New*
Wednesday, August 19, 2009
08/19 Daily Summary
I'll have to simplify the writting on the blog. I have been spending too much time posting, and need to focus a bit more on my trading and the daily job. I noticed I have used this daily summary posting to repeat what I already said in the detailed posting for each position, so from now on, I'll just use this to posting as a daily index to make it easier for people to navigate the current positions I have on in any given day.
Current Positions:
08/19 RUT Iron Butterfly
08/19 MNX Iron Butterfly - SEP
08/19 MNX Iron Butterfly
Current Positions:
08/19 RUT Iron Butterfly
08/19 MNX Iron Butterfly - SEP
08/19 MNX Iron Butterfly
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