This has turned into quite the rally. I made adjustments to both November trades on Friday.
The November M3 trade was adjusted by adding 1 – 640/650call spread to bring the trade Delta down to near 0. If the market continues up, I’ll look at moving the butterfly forward as well. Currently the trade shows that it is up a whopping $60! It was up almost twice that when the market was open so that number may be low. Either way, the position looks fine and is shown below:
The November M9 trade passed it’s roll point of 710 so I rolled the 650 butterfly up to 710. The position is currently down $838.00, again, more than it was when the market was open but we’ll go with that for now. The position still looks healthy as the max loss is $3000 and we still got some downside protection. If the market pushes over 740 next week, that could begin to present a problem but so far, so good. The position is shown below:
Hope your all enjoying the weekend!