Trade Alert 9/4/2024

A week or so ago we attempted to buy a short-term put butterfly in SPY. It was the SPY Sep 6th (weekly) 560-550-540 put butterfly. We did NOT hit our entry price and thus are not in the trade. If an execution was achieved then this would be a place to look to exit the position. We did get filled on our MSTR put butterfly. That has a bit of profit but we will continue to hold. Our VIX positions we are likely to hold to expiration. The risk/reward in spreads is very favorable. However, the only way to get max profit is to hold to expiration. If/when we trade long calls instead of spreads, we would look to exit early. With spreads, we tend to be far more patient.