SPX April 1 Weekly Iron Butterfly Exit Order Filled.
An exit order was in to close the position for a debit of $13.40. At 1:10 pm EST, with SPX at 1562.76, the closing order executed. This resulted in a net gain of $150, or 5% maximum allocated capital. This was our target for this position.
Below is an update of 2013 results for the trade.
SPX Weekly Iron Butterfly Results
Next trade entry for the April1 cycle will be Friday, April 5. The monthly Employment Situation report comes out before the open on Friday morning, which can be a market-moving event. Recommendations for trade entry will be posted Thursday.
In closing, I want to mention again that as with any new strategy, this position should be back tested thoroughly, and paper trade it before putting on a live position. Since I started posting this trade, we have not had to make any adjustments. It is recommended that until we go through some adjustments, to keep paper trading, or back test through some adjustments to get a good feel for how the trade is managed.
Have a great trading week, everyone.