AAPL now looks like this:
My cumulative P&L is down about 6% on Max margin. I'll try and get out at break even on this trade as it hasn't worked. I'm prepared to take a loss too if it doesn't look like this will happen.
The new trade is on TLT.
Friday, July 6, 2012
New Position and More Adjustments
I put on a new position and made some more adjustments after my post of yesterday.
AAPL now looks like this:
My cumulative P&L is down about 6% on Max margin. I'll try and get out at break even on this trade as it hasn't worked. I'm prepared to take a loss too if it doesn't look like this will happen.
The new trade is on TLT.
This is a Broken Butterfly and is part of a bigger position that I want to put on. Downside is a locked in Profit and my present break even on the upside is 131.49.
AAPL now looks like this:
My cumulative P&L is down about 6% on Max margin. I'll try and get out at break even on this trade as it hasn't worked. I'm prepared to take a loss too if it doesn't look like this will happen.
The new trade is on TLT.
Subscribe to:
Post Comments (Atom)
Hi Tom,
ReplyDeleteFor the TLT trade, technically speaking according to the trend and 45 CCI this is bullish, but you put on a bearish broken butterfly as it looks like you are anticipating that TLT wont break above the recent high of June 1st.
Do you ever trade butterfly's (standard or broken) in the direction of the overall trend using the CCI pullback methodology?
Thanks
John
John, you are right about your analysis. Yes I do use the EL methodology with vertical spreads. Works real well. I'll start showing some of these in this blog. Thanks.
ReplyDeleteThanks Tom, I agree vertical spreads work for directional plays. How close to Atm would you choose? Do you also consider probability of expiring?
ReplyDeleteAnon 0:05, i mostly sell OTM as I'm more comfortable holding them if I don't get instant gratification as I can adjust more easily.
ReplyDelete