On Thursday I purchased a 560/610/660 put butterfly for $14.85 and on Friday I sold the 580s/630/680 put butterfly for $17.00.
Currently the position is up $515 and is at our minimal profit target. If I can sell this for over $500 in the next couple days I will probably do so and then enter the October trade. It picture the position is below:
I’ll be looking to get into the rest of the September trades and possibly the October 55 day butterfly this week especially if the market bounces. Right now however I would expect to see a little more weakness and maybe a retest of the 590 level.
That’s it for now. Make it an awesome week!