121008 Weeklys Trade

8:35 am

Traded iron condor. Collected 95 cents. Feel that I gave away 5 cents

RUT = 838
RVX = 19.64
11 lots

815/820 P spread. Delta 17
855/860 C spread. Delta 13

2:51 pm

RUT = 838.97; RVX = 19.50
Short deltas: 13 and 12
Bi/ask: .60 to .95
Cannot ask for more than that.

Oct 9 7:30 am

Futures looking good: essentially unchanged

Although it is wishful thinking, I entered an order to exit the IC by paying 35 cents. You never know what may happen.

10:36 am

RUT = 829.47

Came back from walk and discovered that I paid 10 cents to exit call spread at 9:52 am

Currently, short put carries a 27 delta. Not good. But not terrible.

12:18 pm

Entered a bid for the 5-point put roll down. 30 cents.
Please note that this trade is the put butterfly: 810/815/820. We would exit one put spread and open another.

1:23 pm

Cancelled put roll down.
Hoping to exit (later) instead.

2:57pm

Bought 2 call spreads at $1.05 EDIT: Bought two of the short PUT spreads. Hat Tip: Hannes

Still short 9 lots.

Oct 10

Market slightly negative at pre-open (8:17 am). This may test my discipline.

8:31 am

RUT = 828.23.
Put spread market is .55 to .95. Seems that I paid too much for my two lot adjustment. That’s okay with me. I needed some relief.

Decision: Is crisis over? Do I seek the good-sized profit? My answer is ‘no.’ I don’t feel comfortable with the delta of my short being 25.

No order entered yet.

8:41 am

RUT = 827.00

Bid 95 cents. Bought three lots. Raised bid to $1.00, bought other 6 lots.
Happy to be out for a small loss
I will update the ‘track record‘ table shortly.