Hope you all had a great Christmas!
Sorry for the delay in postings but I was running around getting ready for the big day. Wednesday and Thursday were more of the same with a total of about another 11 points on the RUT. This constant up move is beginning to put some pressure on our trades. The 55 day trade was adjusted again on Monday. I rolled the 620 butterfly out to 630. I am still planning on adding a third butterfly to this and it can still withstand some more up movement, however the profit target may need to be reduced to 20% of our “planned” capitol ($1000 on $5000) Here is what the 55 Day currently looks like. P/L is at about break even.
The 30 Day Method 1 had to be adjusted also, the 630/650 call spread was rolled back to 640/660. The next adjustment point is RUT=640. We still have a chance of hitting our profit target of $900, but one more adjustment and we will need to lower the target.Right now the trade is down $462 or 15% of our planned capitol of $3000. Here is what the trade looks like:
The 30 Day Method 15 trade needed another adjustment as well. The 590 put butterfly was removed and another 630 butterfly was added. As of today, I have about $1000 more than expected in the trade and it is down about $600.