Thursday we did not have an update as nothing changed. We had a 10 point down move and it did not effect the positions much. On Friday however the market continued down and started to effect the trades a little.
The Feb 55 day RUT trade was adjusted again. I rolled the 600/640/680 call butterfly back to a 590/630/670 position to increase Theta and help cut delta a little. Currently the position is up $618 and would benefit from a bounce. However if the market runs sideways or drops more on Monday then I’ll drop the 620 butterfly down to 610. Below is the current position:
The Feb Method 1 has been more of an exercise of not losing money than of making money this month. There have been no changes to the position and the p/l is still at break even.
The Feb Method 15 has had no changes either. The position lost a little since the last update and is now up $664. This position would benefit from a bounce as well and will need to be adjusted if the market continues down.
The March 55 day position got added to on Friday as well. I added a 560/600/640 put butterfly which neutralized Delta and added Theta.