November 7, 2011 Trade Update

Hi All,

I made minor adjustments on both M3 trades today as seems  increasingly likely that the markets want to go up.

November M3 – I bought 1 – 710/720 call vertical to protect against losses on an upside move. If the market decides to come down excessively, I’ll exit the position for whatever I can salvage out of it, otherwise we are all in. The position is up 520 and is shown below:

December M3 – It doesn’t seem like the market wants to let me out of that extra butterfly that I have so I bought 1 – 680/690 call vertical to help make up for the losses on it should the market continue to rise. The position is currently down about $75 and is shown below:

Both bearish butterflies are unchanged.

That’s all for now, let’s see what tomorrow brings!