EL TRADES OPTIONS

This blog will show my longer term Swing trades using OPTIONS. I use specific income producing option strategies with a DIRECTIONAL BIAS. Having a directional bias is critical in earning more, even from what are generally called income trades such as butterflies and condors. The aim of my strategies is to give me more than a 66% edge and to provide a greater than 80% win rate within that edge. The blog shows you the trades I make and how I manage them. For my directional bias, I use the same EL methodology as I employ in my day trading that you have seen for years in the original ElectronicLocal blog. Read the disclaimer.

Wednesday, August 22, 2012

State of Play

I have two positions on at the moment: a RUT butterfly play and a SPX Iron Condor. Both were underwater for a couple of days. The RUT trade was a scale in trade and was expected to show an unrealized drawdown. Full details are on the pics.

Both are getting into profit as the market topped here. I have orders in to take profits in the market although I don't expect to have them all filled today unless the coyotes see that they have walked over the edge of the cliff.




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