Wednesday, May 21, 2008

CLOSE: DVN Iron Butterfly +5.7%

On 5/8/08 I entered the trade as follows:
SOLD IRON CONDOR DVN JUN 08 115/130/120/105 CALL/PUT @11.50 credit

Today, I am done with the trade as volatility has crushed and it is starting to upturn:
BOT IRON CONDOR DVN 100 JUN 08 115/130/120/105 CALL/PUT @11.30 debit

(11.50-11.30)/(15-11.50) risk= 5.7% ROI profit in 13 days

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