With another big run to the up side yesterday and prices holding steady so far today, I finally rolled and added to the October 55 day butterfly. I sold the 540/590/640 butterfly’s and rolled them up to 580/630/680. I then doubled the size so that we now have four put butterflies at 580/630/680. The trade is currently down $562 and is shown below:
I also entered the October method 15 and method one butterflies today and the current positions are below:
I did not enter the November expiration trade yet, figured that the portfolio has too much negative delta already and I believe we have a little further up to go. Hopefully I’m wrong though and the market comes down 30 or 40 points and hangs there, time will tell.
That’s it for now, make it an awesome day!