Sept 28, 2010 Trade Update

Hi All,

I entered the November 55 day trade today, bought 2X 600/650/700 put butterflies for 11.65. It is more than I wanted to pay but that is the way it goes sometimes. The market action has not been good to us lately with the up move and now it is just hanging here. This gives us little idea where the market may be going but I’ve got to say that the way the sell off this AM was bought into makes me lean toward the bullish camp. Hope I’m wrong, time will tell.

As of right now the October positions are still the same as the last update (so no pictures) The oct 55 is down about $900, The Oct Method 1 is down $60 and the method 15 is down about $90. They are all negative delta so a retracement would be nice 🙂

Below is the November position:

That’s it for now, Happy Trading!!