02/12 Daily Summary

Ok, I must have Internet back! Please Comcast, stop being lame.. I’ve been trading out of the local Starbucks, and Today I had the “pleasure” of spending about 40 minutes listening to two guys yapping about useless stuff ... aaaargh Need some quiet please 
Back to trading, shutting down the Iron Butterflies, the OEX managed to make its Money this week, so getting ready to re-load next Tuesday. This is it for me, you all enjoy the weekend, I’ll catch up my new buddies Starbucks buddies...,,

02/12 MNX Iron Butterfly

Houston to MNX, Houston to MNX, you still there, over? Sir. We lost our crew.. 
Yeah, took a beating on this one, but part of the business, at the very least managed to keep under the max loss level. Next month begins.

02/12 NDX Iron Butterfly

Houston, prepare to touch down! We’re landing the craft without major damage, all pilots are still alive.

02/12 OEX Weekly Iron Condor

Another great week on the OEX Iron Condor. About 9% in one week of set it and forget it!

02/12 OEX Weekly Iron Condor

02/11 Daily Summary

Rolling along, I was planning to add my MNX iron butterfly Today but decided against it for one main reason: Market makers already adjusted the volatility to amount for the extended weekend, this dropped option values artificially and I don’t want to get sucked in a lower value because of the long weekend. My plan is to come in on Tuesday (30 Days Till Expiration). Not what I wanted, but then again, a day with compressed volatility is not a good entry signal in my mind.

Today was an entry signal on my directional butterfly strategy, but I honestly have to revise my trading plan as I can’t be spreading myself too thin, so will focus on fewer trades and less management intensive strategies (i.e. weekly strategies and iron butterflies).

02/11 NDX Fast Butterfly

By the end of Today this position would have been closed down 8%, it goes without saying that Yesterday’s projection was off by quite a few points, trying to estimate volatility based on price action is still a challenge for me. I have to spend some time and collect data to come up with some sort of relationship, but time is a very expensive commodity for me these days.