Our Feature Trade for this month, the triple calendar is making progress. Right now things look fairly good with the key numbers. What you see here is the currently OPEN part of the trade. Don't forget, we made two adjustments earlier in the campaign so this doesn't reflect the overall P&L. I'll try and post that tomorrow, but for now I'm managing the open positions only. The closed parts matter when we calculate our overall profit for the campaign, but not in the day-to-day management.
As you can see, the numbers are generally okay. Deltas are a bit long, but that's okay. My RUT condor deltas are a bit short so this provides a nice balance. And it's actually not far off anyway. I also put boxes around our P&L for today and the current Theta. You'll notice they are very close, which is typical when the price doesn't move much, like today. Our overall P&L, including past trades is about breakeven right now… so If we can hang around in this area, or move to the right a bit, the Theta will bring us to a decent profit before the end of this week. We'll see when the Fed meeting holds for us.
Good Trading…
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