02/23 NDX Fast Butterfly

Approaching the 8% (or more) target profit, If we get to this level Tomorrow I’ll take the position out of the table. I plan on analyzing it and taking my profits by end of day if it reaches 8% or more.

02/23 MNX Iron Butterfly

Yesterday’s decision of cutting delta came back to haunt me Today, I still don’t think it was a bad idea overall, as we still managed to post profits even though we had to sell out the call for a loss, then again, it goes back to trading rules I wanted to make sure the delta didn’t get out of control and it was getting there on the trade. If we consolidate for Tomorrow or so, I’ll get to my profit target and get out.

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.