20 Million Dollar Day (according to TOS anyway)
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<< Option Spread Strategies 20 Minute Credit Spread Profit >>Today when the market went nuts (dow dropping 1000 points) our TOS platform started acting haywire. Risk graphs were creating crazy formations for awhile there, then our net liquidating value suddenly said we had over 20 million dollars available.
Tried as I might, I was never able to liquidate any of that before it corrected itself and went back to showing the actual correct sum. Unfortunate really…
However, through out that huge drop, our Iron Butterfly trade did amazingly well.
About 2 hours prior to the craziness starting our position was down around $100.00.
With the market moving down we added a bear side adjustment. Then when everything hit the fan, even though we were well outside our profit tent area, the vols took this trade from what started as a $100.00 loss to over $1000.00 profit. See risk graph below…
Hedged Iron Butterfly During Dows 1000 Point Drop – May 6, 2010
