Wow, pretty bearish week on the market. Our sample trades, in general, are still doing OK. It appears, at least for now, that I made a mistake buying the 650 butterfly on the Feb 55 day position. I was confident the market would hold the 625 area and bounce, It did not. So, on Friday, as soon when it seemed clear we were not going up and the market was weaker than I thought, I bought another 580/620/660 butterfly to help with the error of buying the 650. Currently the position is still slightly profitable and looks like below. Profit target is $1500 and max loss is $2000:
On the Feb 30 day method 1, we are way past our adjustment point. I was trying to decide at around 3PM if I should do anything with this and I decided to leave it till Monday. Unfortunately, the market sold off pretty hard at the end of the day. Not a big deal since the first adjustment on this trade is not the urgent. Anyway right now we are down $22.00, profit target $800 and max loss $800. Here is the current position:
The Feb method 15? So far so good, here it is:
And last but not least, this is what the March 55 looks like:
All right, that’s it for now, stay tuned for the next update and make it an awesome day!