XME Broken Wing Butterfly

I wanted to update and share one of my positions in XME. I set this trade a few days ago, and so far its working out fairly well. Now if you look at my orders you will see my (A) adjustment and my (B) adjustment. Typically when I trade BWBs and it goes my way I will turn the trade into an equal distance butterfly, I’d sell the 32 and buy the 36 strike, and in most cases I will turn this trade into a risk free fly. Now if XME heads lower I will sell the 38 strike and buy the 42 strike to widen out the tent. One thing I’m watching right now is the 36/32 vertical, currently its trading for .28 debit. If I can buy that spread for .15 or lower I will, and that will help me lock in my gains and turn this trade risk free.

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