I made some adjustments to the positions yesterday and entered the August Method 15 and the Sept 55 day trades as well. The entry of the Sept m3 will be done as soon as I am out of the Aug m3 trade.
On the August 55 day trade, I rolled the 760/810/860 put butterfly to a 780/830/880 put butterfly. The current position is 2 780/830/880 put butterflies and one 800/850/900 put butterfly. The position is up slightly, $200, and is shown below:
The Aug M3 position was adjusted as well. I decided to roll one of the short puts on the position from 800 to 810 in order to cut the upside risk as I will exit the position next week and do not want the p/l below $0. This position may end up being a scratch this month, we’ll see. Position is up $134 and shown below:
The August m3 trade was entered as a 790/840/890 put butterfly and is shown below:
The Sept 55 day trade was entered as a 770/820/870 put butterfly and the position is shown below:
Those are the current positions. I’m planning to exit the Aug M3 for a small gain or BE if the market drops hard in the next few trading sessions or next Friday if it does not.
I’m also watching the Aug 55 and will pull the plug on that one for a small gain if it gives me down side problems. I’m still willing to chase the market up if needed.
That is it for now, make it an awesome day!