• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Locke In Your Success

Locke In Your Success

Learn how to create income from options trading

  • Home
    • About
    • Testimonials
    • Our Team
      • Sherri Locke
      • Stephen Hammit
      • John Locke
    • Contact
    • Privacy Policy
  • Coaching
    • Fundamentals In Trading Library
    • Options Trading for Income Weekly Webinar
    • GO Ask A Trader Sessions
    • Trading With The Pros
    • Trading Performance Sessions
    • Market Outlook Weekly Webinars
    • Personal Coaching Sessions
  • Become A Member
    • GO Membership
    • PRO Membership
    • Trading Performance Membership
    • Market Outlook Membership
    • Basic Membership
    • Membership Level Comparison
    • Trade Alert Services
  • Trading Courses
    • Options Trading Strategies
      • The Bull
      • Quick & Dirty Broken Wing Butterfly
      • The Super Bull
      • The Bear
      • Unbalanced Butterfly 1 and 2
      • M3.4u
      • V32
      • X4 System
      • Bearish Butterfly
      • M3
      • The ROCK
      • M21 System
    • Trading Performance Courses
      • Advanced Personal and Position Management
      • Broken Wing Butterfly Master Course
      • The Trading Triangle
      • Trader Transformation Workshop
      • Ultimate Income Trader Workshop
      • How To Best Utilize Calendar Spreads
    • Enriching Sessions
      • Performance Parking Portfolio
      • Boost Trading Results Through Proper Back Testing
      • Managing Risk When Entering, Exiting, or Rolling Positions
      • Far Out M3
      • How To Build Winning Trade Plans
      • Reading Your T+0 Line
      • Trading Lab – Design a Trade
      • Trading Lab – M3LT
      • ROCK’in 2018
      • Trading Lab – Roll Baby Roll Index
  • FREE Resources
    • Free Options Trading Consultation
    • Options Trading FAQ
    • Trading Performance Podcast
    • The Winning Trade
    • Successful Trader Presentations
    • TRADING SUCCESS BLUEPRINT
    • FREE Basic Membership
    • Calendar
    • Recommended Reading List
    • Brokerage Firm Selection Process
    • Fundamentals In Trading Definitions
    • Trader Inspiration
    • Financial Freedom Classroom
  • Blog
  • Log In

2-7-10 Trade Update

February 7, 2010 by John Locke Leave a Comment

It was an interesting week last week. The Feb trades all got beat up pretty bad last Thursday and we were so close to the profit targets too. Oh well, you know what they say: Easy come, easy go”. We will need to see if we can get most of our money back this week. On Friday, I did do a few adjustments. On The Feb 55 day trade I pulled one of the 610 butterflies and rolled it down to a 540/580/620.  The trade currently has three butterflies with our shorts at 580, 600 and 610. It is up about $300 which is a far cry from the $1400 on Wed. Our profit target is still $1500 although if this week does not go well, we’ll take what we can get. Below is the current position:

The Feb method one is now down $158 and the profit taget has been lowered to $600. Position below:

The Feb method 15 is up $409 Profit target still the same $1400. Position is below:

As for the March 55 trade. It was not realy affected by the down move other than I added the last 1/3 of the position on Friday, a 540/580/620 Call butterfly. It was a call butterly so that I did not cross out the strikes on the original 620 put butterfly. Position is up about $500 and can be seen below:

Ok, let’s hope for a calm week and see if we can get our money back!

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Options Trading for Income Weekly Update

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

Recent Posts

  • The Winning Trade Episode 84
  • Stock Market Emotions!
  • The Winning Trade Episode 83
  • Trading Reality Distortion
  • The Winning Trade Episode 82

Categories

Search

Copyright © 2022 · Locke In Your Success, LLC. All rights reserved worldwide · Site Maintained by Nustart Solutions