Just finished a trial exam for my Series 65, passed! I needed 70% I had 78%, not to bad. Tomorrow is the real thing. Please keep your fingers crossed.
Today's market action was on low volume and difficult to read. This is the daily RUT future chart I have been looking at. The diagonal line was the break out I think happened on Tuesday. So depending tomorrow's action, Tuesday was a false break-out, or we retraced a bit deeper than you wish for a clean break-out.
This analyzing on the last "square inch" happens when you are still in a theta positive position so close to expiration week. Every little move starts to have a big effects due to the increase gamma. Yesterday an adjustment on the upside, today an adjustment on the downside. I stick with the trade for two reasons;
- Tuesday and Wednesday were positive days, today I only gave back a marginal amount
- the potential of the trade is still attractive.
But rest assure, I am glued to the chart and computer. For tomorrow I have orders in to take care of a down side adjustment (if needed)
Here is the butterfly:
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