Hi Everyone,
What a move over the last 2 trading days!
On the January M3 trade, I ended up rolling the 10 800 put butterflies up to 840, then selling 2 750/800 calls verticals to reduce margin and then buying 7 840/860 call verticals. This trade, although struggling all month is still doing fine. It is down about $1200 which is unusual but not big deal with a $5000 max loss number.
The January Bearish Butterfly is another story. The 70 point up move in this low IV environment is hardly what I would call Bearish. In addition we have been getting gaps at “the wrong times”. Since we are well under 21 DTE, I’ve made a deviation form the rules to buy myself a bit more up side room. I sold the 10 870 butterflies and bought 10 890 butterflies. This buys my till about RUT 880. Unfortunately I did this from the road this afternoon and did not get a chance to post it on VTF.
Being short on time, I did not bother even looking at the Feb trade. I am planning on skiing tomorrow so will revisit this trade on Friday.
That’s all for now
Happy Trading!
John
You say “rolled up 10 800 bflys”.
But didn’t you start with 5 800 bflys and then add 5 820 bflys?
So did you roll up 5 800 bflys to 840 and 5 820 bflys to 840?
I will update addressing this, thanks