I entered the August M3 yesterday morning with 5 – 750 put butterflies and 8 – 74 IWM calls. The reversal in the market did suck some of the value in the butterflies as sometimes happens so the trade is down about $50 per contract which is not a big deal but does make this “not my best of entries” but it happens to all of us at times. We should easily be able to make this up later in the trade. I’ll go over this in the weekend update as well as any changes to the position.
Happy Trading !