June 1, 2011 AM Trade Update

Hi All,

Happy June!

The market went back up yesterday morning right after the update and as I stated, I added to the positions.

For June I bought 2 810/860/910 call butterflies, one for the June 55 day trade and one for the June m15.

The June 55 day trade is currently up $850 and is shown below:

The June m15 trade is currently just under break even and is shown below;

For the July 55 day trade, I added a 790/840/890 put butterfly. The position is currently down about $130 and is shown below:

 

I’m planning on keeping the June 55 day trade on a short leash.  Should the markets pull back hard, and I can catch it, I’ll likely pull the trade as I would rather not deal with the whipsaws close to expiration like last month but we’ll see.

That’s it for now.

Make it an awesome day!

John