Hi All,
I apologize but I missed posting an update on an adjustment of the September method one trade. I closed the 630 iron butterfly and rolled down to a 600/620/620/640 I am butterfly early last week. This turned out to be a mistake as the Russell decided to gain almost 50 points over the next few days. Also on this trade, I accidentally entered it at one half of the size I wanted to. I entered one contract but wanted to enter two. Between those two errors, the trade is not doing as well as I would like but it is still up about $100 so no big deal. A picture of the position is below:
The September method 15 has had no changes. The trade is being pushed on the upside a little but it’s up around $600. If the Russell drops back down to 620 range, we should be able to take this off at over $1000 profit and I will likely do so. If the Russell stays here or continues up, we will need to fight with this for a while. A picture the position is below:
On the October 55 day trade, there have been no adjustments either. I’m giving it a little time to see if the market will break this downtrend before doing anything with it. Currently the position is down about $100 or so and is pictured below:
That’s it for now, hopefully the market continue its downtrend and we can take some of these off this week or next week. If the market decides to break the downtrend and go up, we deal with it as usual.
Happy Trading!
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