As stated previously, I closed the January Bearish Butterfly yesterday because at 21 DTE (today) we have a reduced profit target of $1000 and the trade was well over that number so I took the money while it was there. Turns out that I would probably made more exiting this morning but I’m happy with the results.
The trade made $1394 after commissions and the maximum amount invested was $7220 which makes for a return of 19.3% of invested capital OR if you want to figure it off the planned capital of $10,000, the return was 13.9%.
As for the M3 trade, I’m “trying” to get $750 profit after commission, I’m getting close but need more time to do so. I started exiting the position yesterday and removed 1 – 640/690/740 put butterfly and both 660/670 call verticals. The position currently shows that it is up $800 but that is before commissions and slippage getting out. If this starts showing over $850 I’ll make an attempt a getting out and see what I end up with. The current position is shown below:
The February Bearish Butterfly remains unchanged.
I’ll be looking at entering the Feb M3 today.