Discretionary Trading Update w/ Butterfly

I took a lot of positions off including a 4% trade in VXX. Like Ice Cube said, “Today was a good day.”

July 13, 2009

July 13, 2009


  • VXX Entry 74.84, Exit 71.56,+4.3%
  • QCOM Bfly Entry 3.09, Exit 3.57, +15.5%
  • MSFT Bfly Entry 1.07, Exit 1.29, +20.5%
  • PFE Entry 14.2, Exit 14.68, +3.38%

VZ position is slightly less then BE and has been underperforming but I can’t compain about today. The Butterfly’s in particular acted very well especially true in the case of VZ which experienced a large draw down before moving back to BE and potential for a large win if it moves towards my target price before Friday (~29.50) In subsequent posts I hope to talk a little more about hedging delta fly’s.

~ by largecaptrader on July 13, 2009.

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