08/25 Daily Summary

Today the only trade that needed a little push was the RUT Iron Butterfly. I started with a 30-point wide butterfly, so adjusting was very much expected.

Tomorrow I plan on adding the 2nd 1/2 to the IBM calendar, I'm leaning towards the 115 calendar, but have not yet being convinced we're going to have a big pull back from here, on the chart, IBM it looks weak at the top, but we'll see.

Position's Details:
08/25 IBM Calendar
08/25 RUT Iron Butterfly
08/25 MNX Iron Butterfly

08/25 IBM Calendar

Plan on adding the 2nd half of the trade Tomorrow. I'm leaning towards the 115 calendar, but not quite sure yet.

Previous Posting:
08/24 IBM Calendar *New*

08/25 RUT Iron Butterfly

Today I added to the RUT position, decided to open another iron butterfly at the 590 strike, this allows me to pump up the up-side break-even and really jack up the theta. I wanted to add 2 contracts, but made a mistake while entering the order and ended up with 3, not a big deal, just extra theta and more inventory to manage if we start rolling to the down-side.

Previous Posting:
08/24 RUT Iron Butterfly

08/25 MNX Iron Butterfly

MNX moved a bit higher Today, did not trigger any contingent orders, that's always a great thing! I have orders in place for Tomorrow. For now the trade is collecting profits as theta is working for it.

Previous' Posting:
08/24 MNX Iron Butterfly

08/24 Daily Summary

Today was a good day for the portfolio, no adjustment was made, and in this case, no news is GREAT news! I'm still down for the SEP positions (-3% ROI), the MNX trade came back above water and RUT didn't move.

I added the IBM Calendar position Today, this is the last portion of my SEP portfolio, and I plan on completing the position by Wednesday.

Positions' Details
08/24 IBM Calendar *New*
08/24 RUT Iron Butterfly
08/24 MNX Iron Butterfly

08/24 IBM Calendar *New*

It feels a bit odd for me to start a position on the bullish side. However, with IBM sitting right above 119, I could not justify starting the trade with the 115 Calendar (as much as I wanted). So, I have entered the first 1/2 of the trade and plan on adding to it during this week (likely Wednesday)

08/24 RUT Iron Butterfly

RUT didn't back off, and we're still sitting right at the top of the trading range and on the break-even for the trade. I can't afford to keep on running without Theta, so Tomorrow, if we don't back off I'll add to the position and bump up its theta.

Previous Posting:

08/21 RUT Iron Butterfly