July more than made up for the lack luster May and June (although not bad just not great) thanks mostly to the two short Iron Butterflies I sold a couple of months ago in JEC and MON. Both moved against me in the last 2 weeks as the market got jumpy but I followed my trading rules and got out at the right times locking in nice profits.
My other positons paid off nicely accept a BRPS in AMT which I was looking nice with until they got upgraded. Oh well, not a bad loss. The others were profitable nicely thanks mostly to selling my bread and butter spreads in SPY, WMT and a couple of new trades in NKE and PALM.
I’m doing well in refining my “1-3 swing for the fences” trading style. I’ve been reading how many people suggest having at least one big trade for each three singles trades you put on. That means taking on more risk than most trades but the reward is much larger than most trades. It’s been working nicely and I’ve been doing it through selling high beta, high vol. via Iron Butterfies. This might change since IV is coming down to earth again. I will find another vehicle if IV comes down too low.
Sean's Trading Journal 