December 5th 2014 – SPX Weekly Double Butterfly – Opening Trade:
This weeks double butterfly didn’t work out but I’ll try again for next week considering the index has again been flat over the last week. It’s a cheap trade, but we need the market to move 1.5% – 3%.
The call butterfly also gives us some protection for our SPX Bear Call Spread.
December 11th 2014 – SPX Weekly Double Butterfly – Close Out:
Normally I would hold these into expiry, but we have a nice little profit so I’m going to close out the puts rather than potentially giving back all of gains tomorrow.
TOTAL P&L: $375