Interesting few days. We’ve got that 25 BPS rate rise and the market went up quite a bit only to fall the next day back to where it started. Not much to say nor do I really have market opinion right now.
I am like 90% cash as I closed a lot of the Jan and only had about 25 units of Feb Rhino on. I will enter March Rhino in about 10 days and I entered an SPX like Rhino trade which requires a lot less adjustment. The T+0 line is a thing of beauty.
Other than that, it’ll be a quiet few weeks until I can ramp back into the trades. I started this blog about a year ago trading Modified iron condors, the protector and some trend-following strategies and I am ending the year as pretty much only a butterfly trader. It’s been quite the journey with an immense amount of learning fuelled by dramatic ups and downs. I feel a million times more comfortable and confident as a trader and I’ve come to learn the value of appropriate risk management. Looking forward to a big year in 2016.
I also like Dan’s trade a lot for several reasons and have put this exact trade as shown in your OV risk graph on as well … same strikes and all 😉
Just out of curiousity … what price did you get in?
Thx
Marc
Pretty sure 85c. I’d have to check though
Hi
Really appreciate your regular updates. As to the flys – are you trading them strictly by guidelines (ex the JL M3) or do you hedge them with your own individual style? Also – I see you run a few different trades; would you say the slight differences make them diversified in a portfolio context
Thanks and merry Christmas to you