Category: Dr. Duke's Blog
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The markets traded lower today due to some weak consumer confidence readings (no surprise there), but trading volume picked up a bit later in the day. The Russell 2000 index (RUT) closed at $508.28 so our trades remain on solid ground with only minor changes in the numbers.

Our July iron butterfly continues on solid ground with a position delta = -$34 and theta = +$174; note how the time decay accelerates as we near expiration. Review the previous blogs from June 22 to today and note the trend in theta.

Our Aug iron condor stands at a minimal gain of +$40 (This is really irrelevant at this point since we are only a few days into this trade), delta = -$35, and theta = +$78. The delta of our short options are unchanged at -11 for the $430 puts and +12 for the $570 calls, so no adjustments are called for as yet.