Trade Adjustment : VXX

Stock / Symbol: IPATH S&P 500 VIX SHORT TERM / VXX Option Strategy: [private_monthly]broken wing butterfly (originally)[/private_monthly] Trade entry date / price: 3 Mar / $27.00 Price at this adjustment: $22.40 Current Position: [private_monthly] Long 2 VXX Apr15 27 calls Short -4 VXX Apr15 30 calls Long 2 VXX Apr15 31 calls [/private_monthly] Reasoning: The […]

New Trade : VXX

Stock / Symbol: IPATH S&P 500 VIX SHORT TERM / VXX Option Strategy: [private_monthly]broken wing butterfly[/private_monthly] Price at trade post: $27.00 Reasoning: With market volatility relatively low, I’m putting on a [private_monthly]broken wing butterfly[/private_monthly] on VXX. The greeks going into this trade are: 26.5 delta, 0.4 theta, and 0.1 vega. Trade Details: [private_monthly] BTO 2 […]

Closing Trade : SPY

Stock / Symbol: SPDR S&P500 ETF / SPY Option Strategy: broken wing butterfly; Date / price at trade entry: Mar 4 / $152; Price at trade exit: $155.82; Reasoning: Should have closed this one out when our stop was first violated. Made some sense to hang in there, waiting for a pullback while the position’s […]

New Trade : SPY

Stock / Symbol: SPDR S&P500 ETF / SPY Option Strategy: [private_monthly]broken wing butterfly[/private_monthly] Price at trade post: $152 Reasoning: Continuing on my premise that the market is still due for another pullback, I’m putting on a [private_monthly]broken wing butterfly[/private_monthly] on SPY. The greeks going into this trade are: -24 delta, 0.9 theta, and -5.75 vega. […]