01/13 Daily Summary

When I got an alert that the NDX position was at critical level, I honestly have to say I thought the TOS platform was reporting bogus data.. Then I checked and saw the market snapped right back up! I closed the position and closed the Call spreads on the MNX Iron Butterfly.

As we approach the end of JAN/10 cycle, it is time to start allocations for the FEB contracts. I plan on entering the MNX Iron Butterfly and RUT Iron Condor with 35 days till expiration.

Position's Details and Price action:
01/13 MNX Iron Butterfly
01/13 OEX Weekly Iron Condor
01/13 NDX Directional Butterfly

01/13 MNX Iron Butterfly

Today's price action forced my hand in closing the remaining Call spreads. Not a big deal, just gave up some $ at expiration. Right now I'll leave the PUTs alone, should be just fine unless the market breaks down in the next 2 days.

01/13 OEX Weekly Iron Condor

Right on! Couldn't ask for a more centered trade, if we just stay around for a few more days and it is money in the bank. I really like not having to touch this position every day, it is super easy to maintain it.

01/13 NDX Directional Butterfly

I closed the position with Today's movement, it hit the stop loss. Not much to report other than that. Today's reversal simply closed the position down.

01/12 Daily Update

Today was an active day, I was able to enter a directional NDX butterfly to the bearish side and also finished exiting the MNX Iron Butterfly. The best thing is that I was able to do it all in about 30 minutes during lunch break. By planning my moves ahead of time I know exactly what to do (if anything) and allows me to take quick and decisive action, which in my mind is essential to keep the trading business running.

Position's Details:
01/12 MNX Iron Butterfly
01/12 OEX Weekly Iron Condor
01/12 NDX Directional Butterfly

01/12 MNX Iron Butterfly

Continued to peel off the contracts, my plan is to let the remaining contracts expire, I have alerts set up at the 1 st. deviation level at expiration. If we hit those levels I will jump in and take the short contracts out.

01/12 OEX Weekly Iron Condor

So far so good, still within the 80% probability of success. The Iron Condor is protected with a STOP order if it hits my stop loss point.