8/20 Daily Summary

Today will be a very brief posting. I am very grateful for the way the market behaved this week and how the position is looking going into its first weekend. More often than not I've noticed that going throught the 1st weekend with profits is half the battle on these trades, as it builds up reserves and allows you to manage the capital without the pressure. That being said, I'm looking for the exit, and as soon as that light goes green I'm out ;)

For now, enjoy the weekend, I sure will!
Cheers!
Gustavo

8/19 Daily Summary

As it turns out Yesterday possible gift was most likely a bad print caused by last minute action and bad quotes at closing time. As we opened this morning the position was no way near Yesterday’s level, we closed in the green Today, which is always good. Now it is a matter of navigating the trade a few more days to get my goal.

8/18 Daily Summary

It looks like the position is giving me a volatility gift! I love when that happens, and I am ready to cash in this gift Tomorrow if things develop as I think they will. Should we trade early AM Tomorrow and shows about 7 to 8% ROI I’ll seriously consider taking a portion of the trade off, I might actually remove the entire position given the fact this will be a busy month for me at work (traveling, long hours, etc).. We’ll see, either way I am very grateful for the gift!

8/17 Daily Summary

I started my SEP position Today. As we were trading at 1835 I got the first portion of the trade, then NDX moved higher and higher, so I kept adding to the position and got a slightly better premium for it, ultimately I had to add the extra long call. In the end I have the entire position, including a long call which I don’t usually start with but got triggered as we traded around 1852 in the morning. I’ll publish the dashboard and additional information Tomorrow as I have had a long day at work Today, for now the position is in!

8/16 Daily Summary

I’ll be looking to get in Tomorrow morning, Wednesday at the latest. While this pull back deflates the volatility, it gives me a chance to get in with a bearish bias and hedge the up-side if I’m wrong. That being said, if we pull back even further Tomorrow it will provide me with what I think is a good entry point, as I believe we’ll see a bit more down-side than this. Either way, it is time for me to get in, so I’ll just go for it.

8/13 Daily Summary

I took a few days off from trading after closing down my AUG position at a small profit. As it turns out, I’m glad I did. I think if the trade was still on I’d have to be dealing with this down-side move and with just a few days prior to expiration these could be hard to recover from. I’m now looking forward to jumping into the SEP contracts, likely to happen next week. I just want to see how we behave and if we break into lower lows on Monday.

AUG NDX Iron Butterfly Day-by-day Review

The AUG trade worked out ok, it started out rough and I handled a constant up-side swing that never seemed to end. We got out to being almost at a max loss level, and when I did the up-side cut and roll I did not add the extra butterfly, for the next cycle the extra butterfly will automatically be part of the cut and roll as I feel this would have made a great positive difference on the trade.

Also, I've made a mistake tracking my P/L with my log spreadsheet, as it turns out I caugt up with it sooner rather than later and it worked out ok. In the past 2 years this is probably the second time this happens, so not a big deal at this time.

Final count: +2.5% ROI, here is the position day-by-day:
8/9 Daily Summary
8/6 Daily Summary
8/5 Daily Summary
8/3 Daily Summary
8/2 Daily Summary
07/30 Daily Summary
07/29 Daily Summary
07/28 Daily Summary
07/27 Daily Summary
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07/23 Daily Summary
07/22 Daily Summary
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07/20 Daily Summary
07/19 Daily Summary