10/26 MNX Iron Butterfly

Between Friday and Today's close one would think we didn't move much. However, the fact is that we moved higher 1 st. deviation intra-day this morning and then crashed down during the day. This created a spike in volatility and even though the position didn't move much, the volatility is keeping the profits away.. Should things settle down it will come back.

10/23 Daily Summary

It was clear to me that we were moving down about 1 standard deviations, The FinViz map was bright red and the VerticalSolutions forecast was pointing to readings below the -8000 level for a good portion of the day. If I needed to make adjustments, I would have waited for a pull back intra-day and then entered the adjustments, that would avoid buying PUTs in the worst possible time.

Position's Details:
10/23 RUT Iron Butterfly
10/23 MNX Iron Butterfly

Price Action & Forecast charts:

10/23 RUT Iron Butterfly

RUT dropped a bit over 1 st. deviation Today, I decided against touching the position, as the T+7 curve still looks pretty good. My plan is to look at the forecast lines more than the T+0 line in order to decide when to make adjustments. For better or for worse, I hesisted the urge to adjust Today.

10/23 MNX Iron Butterfly

MNX didn't drop as much as the rest of the indexes. The position goes throught the weekend right in the middle.

10/22 Daily Summary

I didn't quite pay much attention to the market action Today, as I checked prices mid-day, the FinViz chart was showing a bullish mood, but that wasn't such bullish on the VerticalSolutions chart, so I figured we'd be pushing close to 1 st. deviation, which was ok given the fact I intended on adding to my positions Today one way or another.

Notice how the Financial sector was pulling everything up.. That's very clear on FinViz and VerticalSolution charts. That's Another reason I added both to my daily study, they allow me to see if price action is isolated to one specific sector or if it is something happening accross the board.

Both trades are doing good and getting the benefit of this range-bound environment.

Position's Details:
10/22 RUT Iron Butterfly
10/22 MNX Iron Butterfly

Price Action & Forecasts charts:

10/22 RUT Iron Butterfly

Added the 2nd half of the trade Today, the position is doing very good.

10/22 MNX Iron Butterfly

Added the second 1/2 of the position Today, so far this trade has been going on very well.