02/24 Daily Summary

Didn’t touch any position Today, that makes it a perfect option trading day! Gratefully waiting for time decay to do its job so I can do mine (aka. Get out of the positions). So far so good.

02/24 NDX Fast Butterfly

I’m looking for just a small pull back or simply the time decay to cash in at my profit level this week. At the final hour I floated an order out to close me with 8%, the current P/L was around 7% and I figured it could work, why not try it? I am sure I had traded over 8% during the intra-day action Yesterday, however I want to stick to the backtested process: close by end of day instead of intra-day.

02/24 MNX Iron Butterfly

MNX kept collecting premium Today, didn’t do anything on it as well, just waiting for time to go by and money to come in.

02/24 OEX Weekly Iron Condor

I am glad that OEX moved back and forth Today and didn’t leave the same surrounding area of Yesterday. Nothing to do with the position, simply a matter of waiting for it to expire.

02/23 Daily Summary

Leaving the NDX position alone paid off Today! I got out of the trade for a nice 13.75% profit in 5 trading sessions! I’m on my way to cash out the NDX Fast butterfly as well, and should we hang around these levels I’ll be out of the MNX iron butterfly too. It is all a matter of how the market behaves Tomorrow. One way or another, I’m ready to manage whatever comes my way

02/23 NDX Fast Butterfly

Approaching the 8% (or more) target profit, If we get to this level Tomorrow I’ll take the position out of the table. I plan on analyzing it and taking my profits by end of day if it reaches 8% or more.

02/23 MNX Iron Butterfly

Yesterday’s decision of cutting delta came back to haunt me Today, I still don’t think it was a bad idea overall, as we still managed to post profits even though we had to sell out the call for a loss, then again, it goes back to trading rules I wanted to make sure the delta didn’t get out of control and it was getting there on the trade. If we consolidate for Tomorrow or so, I’ll get to my profit target and get out.