SPX Butterfly Adjustment and Portfolio Updates

Its nice but does’t always happen that I’m right about a news event. The Greek vote yesterday was a non-event and being short premium was a good thing. Volatility got absolutely crushed today giving me a chance to take off all, yes all of my short strangles for a profit. EWZ, IWM and XME were all taken off today at the open for more then 30% cash flow. I actually looked to set some more today but didn’t find anything that was very tempting, but in the next 5 to 10 days I will start looking at Aug contracts. Currently I still have on a short put on VXX, a SPY calendar, the RUT iron condor and the SPX butterfly

SPX- On Friday I made on adjustment as a tent adjustment and today I finished my first round of building a beautiful risk graph. Below is my current butterfly on SPX.

 

Like I said before I feel we will move in a non-directional sideways pattern through summer and I want to put my money where my month is and trade this market as I see it.

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