On\u00a0 Wednesday,\u00a0 the market\u00a0 gapped down and\u00a0 continued it\u2019s downward trek of the previous\u00a0 5 trading days.\u00a0 According to the guidelines of the\u00a0\u00a0 bearish butterfly strategy,\u00a0 the reduced profit target of $1000 comes into effect\u00a0 21 days to expiration on this lot size.\u00a0 As 21 days to expiration was yesterday, and the position was up $1800, I\u00a0 previously stated that I was going to close the position instead of fighting with it IF the market acted up.\u00a0 Well the market acted up, or should I say down ![\":)\"](\"http:\/\/lockeinyoursuccess.com\/wp-includes\/images\/smilies\/icon_smile.gif\"){kind=icon}
,\u00a0 so I closed the position on Wednesday\u00a0 morning for a $1220 gain, after commissions, which makes for an 18% gain on our invested capital of $6604 or\u00a0 a 12% gain on our \u201cplanned capital” of $10,000. Not bad since the\u00a0 $RUT went from 700 to 765 and back down under 680 during the duration of the trade. This rounds off an excellent year for this trade and I\u2019m looking forward to next year!<\/p>\n
John Locke<\/p>\n
Locke In Your Success, LLC<\/p>\n","protected":false},"excerpt":{"rendered":"