SPX May 1 "Test Kitchen" Bearish Butterfly; Adjustment Filled.
The adjustment did fill right away in Paper Money for a net credit of $1.20. I doubt very much if that fill would have executed so fast if it was live capital but since this is a trade in test mode, we will accept the fill received. Summary of the adjustment is below:
- SOLD (2) SPX May 1 1915 Puts, 13.40 credit.
- BOUGHT (2) SPX May 1 1895 Puts 11.10 debit.
- SOLD (2) SPX May 1 1825 Puts, 5.80 credit.
- BOUGHT (2) SPX May 1 1845 Puts, 6.90 debit
Net credit (all four legs): $1.20
Below is the graph of the adjusted position:
SPX May 1 Bearish Butterfly after adjustment:
We will see how the market behaves before rolling the third contract; trade updates will be posted as appropriate.
As always, trade carefully and stay keen on your risk management.