I mentioned in the trade update last night that if the market was stable or down today and I was significantly over the reduced profit target of $500 on the October Bearish butterfly then I would close the position….. I closed the position.
The profit ended up being +$820 on a planned capital of $5000 or 16.4%. The trade was over capitalized however with a max margin of $6200 which cuts the effective gain somewhat to around 11.5%. All in all another good month!
For the VTF guys, I apologize the the exit did not get the trade posted, I had the orders in to execute the exit automatically and they did so when I was offshore boating and was unable to do the positing.
That is all for now and I will keep you posted with any other changes.
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