April Expiration has passed and it couldn’t be soon enough for me. I ended up expiring the April method 15 trade. The P/L would have been -$800 had I tried to close it on Thursday and I was better off expiring it as long as the settlement number was under RUT=726 and if we gapped down I had a lot of potential profit, so I thought it was worth the gamble. Of course the market was strong Friday morning but it was still worth expiring the trade as I ended up with a very small profit of $350. So as a review, max loss + on the April 55 day trade and very small profits on both the method 1 and method 15 trades…..very tough month. I’ll update the spreadsheet some time this week with the final numbers.
The only trade we currently have on is the May 55 day butterfly which is down $352, looking fine and is shown below:
Ok, This is the week we enter the rest of our May trades as well as the June 55 day trade. Conditions for butterflies is still awful so watch your position size and happy trading!