02/23 NDX Iron Butterfly

With Today’s price action we got exactly in the sweet spot for the trade, I promptly removed the position from the table as it reached over my 10% goal in such a short period of time. Final count: +13.75% ROI

02/23 OEX Weekly Iron Condor

OEX made a fast descend Today, the iron condor position is still with a good probability of success. Now it is a matter of following closely to see if we find some sort of pull-back and/or consolidation, which I think might happen in the next day or so given the fact we’re trading around the moving averages and around the 500 price level on the daily chart.

02/22 Daily Summary

Nothing extra-ordinary Today, just business as usual, I entered my weekly strategies and did a small delta maintenance on the MNX iron butterfly position. So far have not touched the NDX position.
I have been compiling ideas about my lessons learned e-book/web-site, more to come on that as I get further along in the process.

02/22 NDX Fast Butterfly

Got another NDX fast butterfly started Today, I start them bearish, so if we pull further down this week it will be in the money, otherwise I’ll hedge and come back next week.

02/22 MNX Iron Butterfly

I cut a few deltas out of the position by purchasing a long call, this softens the up-side risk and doesn’t necessarily cuts my down-side potential. If we suddenly sell off hard, I will sell the long contract and stay a bit longer. If we just drop a bit further the position will be reaching its p/l target.

02/22 NDX Iron Butterfly

Position is working out nicely, today’s small pull back got me up in the P/L level, if we pull back a bit further it will be good to exit. I have orders to hedge if we push higher Tomorrow.

02/22 OEX Weekly Iron Condor

Started a new Weekly cycle Today, as a new rule of thumb I started the position mid-morning, and because of my limited time availability I had to leave one single condor order out there, eventually most of my order got filled. I did not force the remaining contracts at the end of day, left them out this week.