Feb 27th

Still struggling with the butterfly. Based on my statistic I should have been out of the market since a couple of days. I am hitting day 16 right now - way overdue to finish up. The market is not accommodating.

For who, who heard me @ sheridanmentoring - as you can imagine I lost my short term bullish bias I was venting around noon. Till noon all signs were rather positive - the last hour destroyed all that again.

I have three graphs for you. Butterfly 1, butterfly 2 and the combination. In total on a 5 lot I am down $200/300. This including the regrettable expensive upside protection I bought a week ago.

I am convertable with my current position - altough I wish my trade was a bit wider on the down side. But then we already made an ugly move down - so we will see what we get next week.

Comments

[Joe5555]

ET - Love the new combined construction ! "Stay in the game; Stay in the game; move the net" - you are a great matador ! (as Dan-S would say! ;-)

[Noam Abda]

Very intresting adjustment work you did here....
if i may ask, for the first butterfly, why you made such an adjustment and roll it to kind of a condor. if you just pill of the debit spreads you got left , it would work also.
aint it?