04-04-10 Trade Update

Happy Easter!

There have been no updates as the market did nothing all week. There have been no adjustments but I’ll give you a rundown on where all the positions are.

The April 55 day is still in poor condition. Currently the trade is down $1160 and is over capitalized but as of right now we got the money to deal with it. In any kind of a normal market environment we would have gotten a pullback by now but not in this market! All we got was a little sideways action. I know it’s a lot to ask for but another week of sideways to slightly down movement would save this thing. A sharp up move may very well do this trade in, we will need to wait and see what the market gods have in store for us this week. Below is the April 55 day position:

As for the other trades, they are doing fine, the April Method 1 is up $290 and has had no adjustments as of yet. Position is below:

The April method 15 is up $291 and is shown below:

And the May 55 day is fine as well, it is up $68 and is shown below:

As I said earlier, the conditions for butterflies right now is terrible. Given the price action last week, these trades should be up much more. The simple fact is that we paid way too much for these and it will take into expiration week before we get any real profit out of them. We just need to deal with lower profit targets and take what we can get in this environment. OK, that’s it for now. Make it an awesome week!