03/04 Daily Summary

No bear action Today, very light up-side movement as well, we’re trading in a range and that is a good thing for my option trades, specially for the OEX weekly position, where time decay is accelerated every week. NDX Fast Butterfly needs only a small pull back to close profitable Tomorrow.

03/04 NDX Fast Butterfly

Certainly a major difference on this week NDX fast butterfly, the time decay has yet to begin, so far the NDX has pressed slightly higher and that is enough to erase any theta gains overnight.. Will re-visit my backtest data and take another hard look at the trades initiated with 49 days, I wonder if that will give me any more insight..

03/04 OEX Weekly Iron Condor

OEX keeps pressing higher, let’s see if what it does on Friday, probabilities are still around the 80% level that the position will be fine Tomorrow. Tomorrow it will all come down to the Time vs. Market speed decision :)

03/03 Daily Summary

We’re spinning around the top without any major direction. My feeling is that bears are starting to salivate over this type of action. Let’s see what happens next.

03/03 NDX Fast Butterfly

No major change, still slightly under-water on the position. I believe it has to do with the number of days to go, this week I started with the APR contracts and there is still 43 days to go, so time decay is not necessarily helping a lot here. I need to gather up more backtest data points to make any decent assumption here, but my feeling is that between 35 to 25 days is the sweet spot for this strategy.

03/03 OEX Weekly Iron Condor

Got only a couple more days to go, probabilities improved a bit again Today, trade is looking good.

03/02 Daily Summary

Another day without any activity, good trading day as far as I am concerned. I entered the second ½ of my NDX butterfly. I had a super busy day at work and am glad I didn’t have to do any maintenance during lunch hour (as I worked through lunch). Balancing work and trading is a challenges some times, Today was ok though.