- This trade went through the weekend without much movement. Theta had helped generated the profit.
- Another reason for the profit was I manage to buy the FLY at a lower debit.
- Net profit for this trade is $74.18. It looks small but consistently generating winning trades is what I am aiming for right now.
29 Nov 2016 – Day 1
- 51 days to expiry. RVX was at about 19. Managed to buy the Fly for $9.50, slightly cheaper than the usual $10.00.
- Lesson learnt from the previous Fly trade, I have also bought the IWM Long Call for $1.86 to neutralise the negative Delta from the Fly which is 20 points below ATM.
6 December 2016 – Day 8
- No adjustment needed for this trade. RUT was more or less trading at the same level as when I entered the trade.
- But today it looks like it was going to move closer to my breakeven point, so I decided to take the profit instead make adjustment.