Shared by
walden
SPX went up to initially to 4527 on 14 July Friday, and then going down all the way to 4510. I did an iron butterfly on SPX at 4520 level.
What I did Right: Got clear confirmation of a big move down and bottom out before starting my iron butterfly position. I am slightly bullish as well, so on the way up 4520, I am "centered" on my iron butterfly position, and gives me the profit
Where I could improve: Not patient enough. Can hang on a bit longer to get at least USD130 from the trade.
Trade grade: C
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2023-07-14 11:02:33 | JUL14 23 4520 CALL | sell | $4.550 | short |
| 2023-07-14 11:02:33 | JUL14 23 4540 CALL | buy | $0.5700 | long |
| 2023-07-14 11:02:33 | JUL14 23 4500 PUT | buy | $2.080 | long |
| 2023-07-14 11:02:33 | JUL14 23 4520 PUT | sell | $9.800 | short |
| 2023-07-14 11:23:06 | JUL14 23 4520 CALL | buy | $5.670 | 0 |
| 2023-07-14 11:23:06 | JUL14 23 4540 CALL | sell | $0.6700 | 0 |
| 2023-07-14 11:23:06 | JUL14 23 4500 PUT | sell | $1.420 | 0 |
| 2023-07-14 11:23:06 | JUL14 23 4520 PUT | buy | $7.270 | 0 |
Displaying SPY as a proxy symbol.
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