11/12 Daily Summary

Today's break was welcome, MNX got a bit better. We are on the 35-day mark, and I entered an Iron Condor strategy that I've decided to use for my portfolio after testing it for the past 3 years. It is a simple and easy to manage trade, so it is added to the system.

I did not enter the MNX Iron Butterfly for DEC contracts. Plan on doing so by the morning, if I can catch good prices, otherwise will do it by Monday.

Position's Summary
11/12 RUT Iron Condor
11/12 MNX Iron Butterfly
11/12 NDX Iron Butterfly

Price Action and Vertical Solution's charts:

11/12 RUT Iron Condor

This is a new trade/investment idea. My plan is to combine my 5-day volatility study with non-directional trades. I've tested this for the past 3 years and created a few filters do adjust allocation size as well as an exit strategy based on the 5-Day volatility profile.

1) Enter half of the position size with 35-Days till expiration
2) Enter 2nd half only if the 5-day volatility profile looks good: No extreme action to one side in the past 10 days.

Extreme action is defined as 2 or more days in a row with over 0.5 standard deviations (on the 5-day volatility chart) This month, I entered both halfs, so it is a full allocation.

11/12 MNX Iron Butterfly

Got a small break as MNX pulled back a bit. Will decide if leave it through Monday or if condorize by end of day Friday. It all depends on how the profile looks by end of day Friday.

11/12 NDX Iron Butterfly

Not much changed, plan to condorize the position by end of day Today.

11/11 Daily Summary

Had a couple of quiet days, but both positions are still in danger.. Not much of a recovery even though this is the final week prior to expiration. This is because they have too many longs DEC Calls to control their deltas, and that kills the theta.

Position's Summary:
11/11 MNX Iron Butterfly
11/11 NDX Iron Butterfly - Paper

Price Action and Vertical Solution chart:

11/11 MNX Iron Butterfly

Two quiet days, waitting for some sort of a pull back so I can condorize the position. So far the P&L has gotten stuck at the same level.

11/11 NDX Iron Butterfly - Paper

TOS Profile chart isn't working for the NDX position, one way or another, I'll have to exit the trade either Thursday or Friday at the latest.