State of Play

Here are a couple of the positions I have on at the moment: a butterfly and an Iron Condor. These, I guess, are bread and butter trades. I'm looking at putting on some bear cll vertical spreads now that there is some topping indications. AAPL is quite hard at this level in case it does break the psychological $700 convincingly. But somehow I think it's all in the price unless iTV or a mini iPad rear their heads.

Below is a learning trade, for me, at least. I trade Calendars badly. I think it's because I never liked trading them on the floor and I usually only made markets in the front month where the volume was in those days.

This SLV position started off as a -10/+10 calendar that went negative. I wrapped it in a butterfly which I do like to trade so I could get to break even on the trade. The way I trade calendars at the moment is to require almost instant gratification. This one went negative too quickly so I did the butterfly adjustment. It's a tiny position as I'm still trying to find a better way of trading calendars but I'm showing the trade as an example of the adjustment.

Rally, Rally, Rally!

See my "I told you so" here in the day trading blog.

Covered All Open Positions

I covered the SPX Iron Condor position at -1.25 after buying it at -2.30 making a profit of over 10% for the trade. I also covered my RUT Butterfly at 2% profit. I am waiting for the ECB announcement tomorrow before I take any more swing trades. I'm smelling a possible rally from here. I say "smelling" because there are only the earliest of technical signs that may not result in the rally coming. However, due to the uncertainty, I'm sure I'll be able to put on bigger size at a better price when I'm confident in what I'm seeing.