Daily Summary

Ok, not much to report Today, I spent most of the time away from the computer and enjoying some time with family. Our son is on school break so we took time off to go out and enjoy.. I’m glad the market didn’t decide to go nuts either.. Let’s all relax, shall we? :)

03/29 NDX Iron Butterfly

Not much to be done except to wait for time decay and market retreat. So far, the position is ok, and I still have some moves left to be made if we push higher.

03/29 NDX Fast Iron Butterfly (from 03/22)

I had an order to open the upside iron butterfly Today, but it didn’t get filled. I wasn’t watching the market at the closing, as we took our son out to enjoy his spring break. I will attempt to enter the extra butterfly Tomorrow if it make sense. I’m keeping my powder dry sort of speak.

03/29 NDX Fast Iron Butterfly (from 03/15)

No major change in P/L on the position Today, there is not much left to be done on this trade, except to wait for time decay to do its thing and, of course, for NDX to take a break. I’ve added the price chart to give some perspective on when I entered the trade and where we are Today, as we can see, it started as a bearish butterfly and only took upside swing, so it has been challenging to say the least.

03/26 Daily Summary

Ok, it seems we’re either consolidating or starting a pull back, as long as we don’t go down too deep the positions should be ok. For now I’m going to kick back, relax and enjoy the weekend!

03/26 NDX Iron Butterfly

Didn’t touch the trade, it sucks I had to level the vega on Yesterday’s whipsaw, but then again, it s part of the game, I can’t follow the tick-by-tick of the market and that’s the trade off between being a full time intra-day trader and being an income strategy trader + work full time.

03/26 NDX Fast Iron Butterfly (from 03/22)

I did not open the extra butterfly for the theta recovery Yesterday, as I mentioned earlier, selling a position by end of day on Friday is not the best way to go, plus there is still theta on the trade because we backed off from the edge of the butterfly. So all I did was to “debitize” one of my back month calls by selling a further out of the money call to cut some of the deltas. Depending on where we are on Monday I might open a new butter to bump up the theta, we’ll see.