• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Locke In Your Success

Locke In Your Success

Learn how to create income from options trading

  • Home
    • About
    • Testimonials
    • Our Team
      • Sherri Locke
      • Stephen Hammit
      • John Locke
    • Contact
    • Privacy Policy
  • Coaching
    • Fundamentals In Trading Library
    • Options Trading for Income Weekly Webinar
    • GO Ask A Trader Sessions
    • Trading With The Pros
    • Trading Performance Sessions
    • Market Outlook Weekly Webinars
    • Personal Coaching Sessions
  • Become A Member
    • GO Membership
    • PRO Membership
    • Trading Performance Membership
    • Market Outlook Membership
    • Basic Membership
    • Membership Level Comparison
    • Trade Alert Services
  • Trading Courses
    • Options Trading Strategies
      • The Bull
      • Quick & Dirty Broken Wing Butterfly
      • The Super Bull
      • The Bear
      • Unbalanced Butterfly 1 and 2
      • M3.4u
      • V32
      • X4 System
      • Bearish Butterfly
      • M3
      • The ROCK
      • M21 System
    • Trading Performance Courses
      • Advanced Personal and Position Management
      • Broken Wing Butterfly Master Course
      • The Trading Triangle
      • Trader Transformation Workshop
      • Ultimate Income Trader Workshop
      • How To Best Utilize Calendar Spreads
    • Enriching Sessions
      • Performance Parking Portfolio
      • Boost Trading Results Through Proper Back Testing
      • Managing Risk When Entering, Exiting, or Rolling Positions
      • Far Out M3
      • How To Build Winning Trade Plans
      • Reading Your T+0 Line
      • Trading Lab – Design a Trade
      • Trading Lab – M3LT
      • ROCK’in 2018
      • Trading Lab – Roll Baby Roll Index
  • FREE Resources
    • Free Options Trading Consultation
    • Options Trading FAQ
    • Trading Performance Podcast
    • The Winning Trade
    • Successful Trader Presentations
    • TRADING SUCCESS BLUEPRINT
    • FREE Basic Membership
    • Calendar
    • Recommended Reading List
    • Brokerage Firm Selection Process
    • Fundamentals In Trading Definitions
    • Trader Inspiration
    • Financial Freedom Classroom
  • Blog
  • Log In

July 27, 2011 Trade Update

July 27, 2011 by John Locke Leave a Comment

Hi All,

Big move down in the markets today.

I stated in the July 22 post  ” 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.”  Well… I almost pulled the trade yesterday but decided to see what today brought and it was more of the same.  So with the continued down move at the open and the fact that I was leaving to spend the day at the beach 🙂 , I decided to ahead close the Aug 55 position.  The result was a $810 gain after commissions on a total investment of $5122.  This comes to a 15.8% profit on invested capital or 16.2% profit on our planned capital of $5000.  This is only 1/2 the profit target but considering this trade was close to max loss before the pull back, I’ll take it!

I adjusted the August M15 trade at the same time as that trade was feeling some down side pressure as well. For the adjustment, I simply rolled the 780/830/880 butterfly back 10 points to 770/820/870.  The position is currently down about $150 after the close. The position is shown below:

The Sept 55 is doing well, it is currently up about $350 and flat Delta. Position is below:

And last, but not least, the Sept M3 trade.  A hard down move the day after you put this on is NOT what you like to see in this trade but that is exactly what we got. Despite the down move however, the trade is only down around $100. The position is shown below:

That is all for now, let’s hope for some relief tomorrow!

Happy Trading!

 

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Options Trading for Income Weekly Update

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

Recent Posts

  • The Winning Trade Episode 84
  • Stock Market Emotions!
  • The Winning Trade Episode 83
  • Trading Reality Distortion
  • The Winning Trade Episode 82

Categories

Search

Copyright © 2022 · Locke In Your Success, LLC. All rights reserved worldwide · Site Maintained by Nustart Solutions