05/05/10 Trade Update

I was trying to limit this to once a week but since RUT has moved down 35 points in 2 days, I decided to update you on the positions.

Method 1: Tuesday the adjustment point was hit and the 690/710 put spread was rolled down to 670/690. Currently the position is down $460 or about 10%. If RUT stabilizes and moves up the position should look pretty good. Position below:

The method 15 was adjusted Tuesday as well. I rolled the 730 butterfly down to a 700 butterfly to flatten the Delta out. Currently the position is down $754 or about 11%. Again, if the market settles this will look real good. Position is below:

On the May 55 day trade, I simply pulled off the two 750 butterflies on Tuesday when the market looked like it was going to drop. Currently I am sitting with 2 – 670/710/750 butterflies  and the position is down $758 or about 15% of planned capitol. I’ll likely treat this like a method 15 from here on out and adjust it at either expiration break even. Position below:

There has been no changes to the June 55 day trade, it is still slightly in the green:

Make it an awesome week!