I decided to close the July M3 today for about a $1700 profit after commissions. We were only at 1/2 our profit target and we were not in any trouble but it was a long month with unfavorable options pricing and would rather take the money and trade in August than fight with a July trade into expiration.
I am planning to enter the August M3 tomorrow and hoping we get a big price movement to bring the butterfly prices down.
There has been no changes to the August Bearish Butterfly but I’m really liking the price movement this month…. so far 🙂
That’s it for now and I’ll keep you updated and happy trading!