Iron Fly on IWM

Nov 2, 2016

Neutral Stance on IWM.

-2 16 Dec 16 IWM Iron Fly 108/115/115/112 @ 4.96 ($992)

Risk: 4.08 ($408)
Target: 2.50 ($250)

Breakevens and Profit zones in Green.

Nov 9, 2016

Trade active

Added a new Iron Fly here,

116/120/120/124 @ 3.13 to reduce some upside risk.

This new trade has a risk of .87 added to the entire position. Ideally IWM @ 115-119 is now going to be my sweet spot.

Nov 15, 2016

Note

Closed the 108/115 put side for .15 debit. BE is reduced by .15.

Nov 16, 2016

Note

I rolled up the short 115/122 call side for a loss and re-established a 131/134 call spread for 1.13 ($113).This roll was filled for a $11.92 debit (ouch!).

So I have a $361.30 realized loss with the other IRON FLY left and 2 call spreads.

New BE on the rolled call spread is 132.13.

Nov 16, 2016

Trade active

The 120 IRON FLY didn't feel very hot (although it was only down around $60), so I went ahead and left the put spread, but rolled the calls up for a $2.19 debit.

The new call spread is now the 131/135 for $1.10 credit (132.1 BE). I've realized around $168 loss on the original 116/120/120/124 Iron FLY so far, but I currently hold $105 profit in my put strike and have the opportunity to make another $110 in my call side.

All of this rolling is experimentation, so we'll see how it all ends up.

Dec 11, 2016

Note

Closed this trade 12/9 for just under it's full loss. I don't see it moving down 5% percent in the next week.