04/22 NDX Iron Butterfly – MAY/10

What a wild day!! NDX was trading at 2001 some point intra-day, and rallied all the way to 2047! Needless to say, market makers made their spreads really wide to compensate for such a sharp movement. The P/L got affected by that, and since it hit my contingent order in the last few minutes of trading, I ended up buying some of that as well. The position is down 5% due to these two factors. I’ve posted my game plan as of Today, notice that based on my estimations I would be down about 1% if this was a normal move to 2047.. It pays to keep things in perspective, bottom line I’m still looking to make 10% on the trade.

04/21 Daily Summary

Started the MAY journey with the NDX Iron butterfly.

04/21 NDX Iron Butterfly – MAY/10

Started the May trade this morning, as the market was trading higher but seemed to be looking to pull back. Turns out it did pull back a little. I have contingent orders to soften the deltas by adding the long MAY call if needed at 2047, otherwise will ride it without the extra call.

04/19 Daily Summary

If you just look from close to close, there has been little difference, however, if you look at Today’s intra-day action, you’ll notice we were trading quite lower mid-day and rejected those levels pretty fast. The 5-day profile chart has yet to violate the up-swing. Today’s low in my opinion is an important level to watch moving forward.

04/16 Daily Summary

Two back to back 2+ standard deviation days, is volatility coming back? Don’t have any position right now, likely to enter on Monday.

04/14 Daily Summary

Closed both my remaining positions at their stop levels Today. I am actually glad I did get out of them around 2015, it would have been worse otherwise. Will enjoy a few days without anything on, and come back with only one trade next week.

04/14 NDX Iron Butterfly

Here is what I have left on the trade:
2x APR 1900/1825 put credit spread
Reached my stop loss on the trade as we got to 2015, not a good month, specially hard because I feel this could have been avoided or traded differently. Need to go back and review the trade to see where the lessons are. -12.33% result for this month.