Closed NOV Butterfly

Today 10/22/12 I sold the NOV butterfly with long call at a gain of $300. less the commissions $27. for a gain of  $273. approximately  5.5% on the $5000. capital put aside for the trade

Delta Correction

On 10/19/12 I sold a 805/815 call vertical to correct the Deltas

Adjustment on 10/16

On 10/16/2012 I bought an 810/820 call debit spread for $715. to bring the deltas to near zero today after the market close the deltas are up to about -3.85 if the RUT continues up I will add debit spreads to adjust the deltas.

One week no changes

I entered the position 7 days ago and all the greeks are good with approximately  an unrealized gain of about  2%.

Below is a 3 month daily chart of the RUT

And below is a 3 month chart of the RVX

November Butterfly with Long Call to Reduce Deltas

I entered an 810 RUT put Butterfly with 50 point wings with a 78 IWM call and an 815/825 RUT call debit spread to control the deltas. The risk graph:

The one year daily price chart looked like this: