This is an extremely difficult month to anticipate any market movement. You have to fall back to your trade rules and find satisfaction in trading well; sadly what ever the results.
I finished the box on the old 670 butterfly, all in all little more than $1200 down. Today's market action showed that a down turn in the immediate future will most probably not happen. That was the reason to close the box.
As for the butterfly centered on the 720. That butterfly is doing well, not as well as it could have been. Yesterday breaking the 700 I made my first downward adjustment. A day like this is hurting me, this morning I moderate the delta's a bit. Easy does it.
I am afraid to follow me in detail for August has become a bit difficult. I will keep you posted a good as possible.
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