I entered the November M3 trade today. I bought 10 760/810/860 put butterflies and 2 750 RUT calls. I ended up getting what I thought was very good pricing on the butterflies and this would have made for a great entry had I NOT attempted to time the market and hold off buying the calls. Normally, I’d say 80% of the time, I can make out doing this…. Not Today! This happened to be right when the market capitulated today and shot up so it hit my emergency last resort automatic trigger which ended up in me paying about $3 more for the call than I should have. So the end result is I am going into the position down $600. Should be able to make it up later in the trade but it does not make me feel all fuzzy inside. Other than that…. awesome day!
I will post the position and any changes in the weekly update.
Make it a super weekend!