Up, Up, Up RUT just keeps going up. I did not have time to post yesterday but quite a bit has happened in the last 2 days. On the February method 1, it was profitable, the operative word here being…. was. At the last update, this trade was at a small profit, but I was looking to get a little more money out of it since the other 2 trades got beat up so bad this month. Tuesday the market gapped up at the open and kept going so I closed 1/2 of the trade at a very small profit. I decided to “roll the dice” with the other 1/2 hoping that the market would drop a bit today. That did not happen RUT gapped up again and pushed higher. I hit my max loss on that 1/2 of the position and exited the trade. Maximum capitol in the trade was $3290 and we had a loss of $357 which makes for a loss of 10.85% on actual capitol or 9% of planned capitol, well within the limits of our plan.
On to March! The 55 day March trade has taken a beating by the up move but so far is still in good shape. Yesterday, I decided I wanted to roll the 580 butterfly up to 600. It turned out that I got filled on the purchase of the 560/600/640 put butterfly and did not get filled on the sale of the 540/580/620 butterfly so I held it overnight. I put the order in to sell the 580 again today but with the up market, the order sat there all day once again and it did not get filled so I’m still in the 580. If the market continues up tomorrow, I’ll sell it off for whatever I can get but for right now I’m hoping the market is out of steam and pulls back. Currently there is 4390 in the trade and the position is down $15. Profit target is $1500 and max loss is $2000. Position is below:
I also entered the 30 day trades yesterday, for the method I entered 2 – 590/610/610/620 iron butterflies. Planned capitol is $4000, profit target $800, max loss $800. Position is below:
The March method 15 was also put on yesterday, unfortunately early in the day. I bought a 550/600/650 put butterfly. The planned capitol is $7000, profit target $1400, max loss $1400. Currently the position is down $192 and a continued up move tomorrow will force an adjustment. Position is below:
And today I got into the April 55 day trade by buying a 560/600/640 put butterfly. Planned capitol $5000, profit target $1500, max loss $2000. Position is below:
That’s it for now, I’ll post the February trade results as soon as I get them prepared.