{"id":1189,"date":"2016-02-26T18:00:14","date_gmt":"2016-02-26T18:00:14","guid":{"rendered":"http:\/\/www.travelsandtrades.com\/?p=1189"},"modified":"2016-02-26T18:01:15","modified_gmt":"2016-02-26T18:01:15","slug":"feb-26-updates","status":"publish","type":"post","link":"http:\/\/www.travelsandtrades.com\/?p=1189","title":{"rendered":"Feb 26 &#8211; Updates"},"content":{"rendered":"<p>This move up from 950 to 1040 (~11%) in the space of ten trading days has put a damper on both the March and April trades. Especially the 4.5% move in the space of the last 2 days. I am back where I started about 10 days ago, break-even for the year.  I guess it&#8217;s not a bad result considering the moves and volatility. Just 3 days ago right when I was taking off my call spreads, I was up significantly (5%-6% of equity) and now I&#8217;m hovering around $0. Is what it is and the market sometimes does not makes it easy. Any pull back in the next 2-3 weeks will benefit the April trades and we&#8217;ll be right back up. I haven&#8217;t checked yet, but most of the pain is definitely in the April trades and March theta has offset some of the negative deltas as of late.<\/p>\n<p><strong>April Trades<\/strong><\/p>\n<ul>\n<p>So for the April trades, I am just about at my delta limits and am looking to buy a modest amount of call BWBs or call calendars to bring the deltas down just a bit. NYMO is extremely over bought, the RUT is sitting at heavy resistance near its Oct and Sep lows, it&#8217;s moved nearly 100 points and the volatility in the market is high = I will be a bit more patient with adjustments to the upside. Though it&#8217;ll hurt a bit if this turns out to be an Aug 2014 style run to the upside. Any move down to RUT 1035 today, and I&#8217;ll be putting more of them on, if it runs from here (1038), I&#8217;ll be slower to add as I await some exhaustion and for Monday\/Tuesday to see where we stand.<\/p>\n<p><strong>March Trades<br \/>\n<\/strong><\/ul>\n<p>This has been some terrible timing for our 21 DTE removal of trades week. Sitting quite health last week to have a 4.5% move right into our most unpreferred area of both the Bearish butterflies and the Rhinos that remained. I had kept removing trades through the last 7-10 trading days but not enough to prevent some pain.  I&#8217;ve got these deltas under control for now and it looks like I will wait till Monday\/Tuesday to get the rest off. Taking off those damn call calendars at RUT 1008 after it touched into the 990s was a huge regret, especially now, that RUT is at 1039! That hurt a bit.<\/p>\n<p>Frustrating week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This move up from 950 to 1040 (~11%) in the space of ten trading days has put a damper on both the March and April trades. Especially the 4.5% move in the space of the last 2 days. I am back where I started about 10 days ago, break-even for the year. I guess it&#8217;s &hellip; <a href=\"http:\/\/www.travelsandtrades.com\/?p=1189\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Feb 26 &#8211; Updates<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[26,36,35,28,27,25,33,31,32],"class_list":["post-1189","post","type-post","status-publish","format-standard","hentry","category-trades","tag-bearish-butterfly","tag-broken-wing-butterfly","tag-bwb-road-trip-trade","tag-john-locke-m3","tag-john-locke-trades","tag-m3","tag-rhino-m3","tag-rhino-m3-trade","tag-rhino-trade"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5IMbd-jb","jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1189"}],"version-history":[{"count":2,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1189\/revisions"}],"predecessor-version":[{"id":1191,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1189\/revisions\/1191"}],"wp:attachment":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1189"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}