The pullback in RUT on Friday put the trade up some money and allowed me sell the 570/610/650 put butterfly at a profit and roll it up to a 580/620/660 put butterfly. I did this because we are near 30 days till expiration (DTE) and wanted to be a little closer to the market. Currently, we are only 1/3 invested in our position as the market never moved up 20 points from our entry. Our plan for the next week will be to add a 600/640/680 butterfly when RUT=approximately 650. Here is the current position:
As for the 30 day trades, I’m planing on entering them on Tuesday.
Mary Fruen says
I look forward to following your trades, though I’m trying to adjust butterflies less. I’m trying Bill Kirby’s approach of using 1 s.d. to pick the width of the wings.