An exit order was in to close the position for a debit of $15.40. At 12:10 pm EST, with SPX at 1551.40, 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 April 3 cycle will be Thursday, April 10. Recommendations for trade entry will be posted Wednesday.
In closing, I want to mention once 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. I also want to mention that I always try to exit the weekly trades by the close on Wednesday, or by Thursday morning at the latest, even if it means closing for a reduced target or loss.
Have a great trading week, everyone.