TRADES 6 & 7

“Blame it on the black star. Blame it on the falling sky. Blame it on the satellite that beams me home”

– Radiohead

One of the most underrated Radiohead songs.

The move up in the market on Friday was too much for my butterflies and I hit my conservative exits on both trades 4 and 5.  Both suffered small losses of 0.7% and 0.9%.  Today I entered 2 new trades below.

Trade 6 which is slightly bullish leaning in case we get more of a run-up in the coming weeks.  Expiration is Dec 15.

Trade 7 is slightly bearish and has an expiration of Nov 30.  I’m using much less capital on this one vs. trade 6.

Overall these positions are net neutral, with a very slight bullish bias.

It’s been a really tough environment over the last few months for these types of trades.  Low volatility, steep skew and an unrelenting bullish market.  I expect we will see some normalization in the market soon.