Adjust Trade Alert: SPY November Butterfly Hedge #1 (Adjustment #4)
Fri, Nov 11, 2011 | Frank
We’re rolling the remainder of this position into an iron condor, with the following iron-condor order:
Day limit order
Buy to open 1 SPY Nov 134 calls
Sell to open 1 SPY Nov 132 calls
Sell to close 1 SPY Nov 125 put
Buy to close 1 SPY Nov 119 put
for a net credit of $1.01 or better.
Note that the 1 contract per leg specified above represents the portion of our 113/119/125 put butterfly that we still haven’t rolled, and is the same number of contracts we’re currently long at the 125 strike.
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