This one was a monster trade. I was at around a 20% loss for a while on this one, but it never hit my stop loss near 30%.
My fellow trade buddies that did this trade got stopped out today, but luckily, I took off my stop loss last night seeing the volatility craziness. Since this position was sized correctly for max loss, I figured that I was already willing to lose the full debit I spent, so I took off the stop loss to see where it would go today.
On 5/14/08 I entered as follows:
BOT BUTTERFLY CCJ JUN 08 45/40/35 PUT @1.90 debit
Today I exited at just above breakeven for a small profit merely on a volatility fluctuation:
SOLD BUTTERFLY CCJ JUN 08 45/40/35 PUT @1.96 credit
1.96-1.90/1.90= 3.2% ROI in 7 days
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment