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.

Thursday, August 23, 2012

Took Some Profit

I took some profit on the RUT trade by taking off the higher butterfly. I'll put it back if RUT rallies to around 820.00 again, depending on context. Pic shows current RUT trade. My delta/theta ratio is a bit high, so I'll need to decide whether to do anything about that today if I can't take more profit on the other butterfly.




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