Reverse Harvey Adjustment For A Longer Term Broken Wing Butterfly – (Video)
The video below makes reference to the July 29, 2016 expiration $SPX Broken Wing Butterfly. The trade was started with 85 DTE, scaled into, and then adjusted due to an open profit. The video below talks about a potential Reverse Harvey adjustment for the trade. Ultimately, I opted for a less aggressive adjustment and sold a vertical spread within the body of the fly.
The orders for this position have been made available as the trade progressed (since 5/5/2016) on the Results Page. They’re duplicated below for easier viewing.
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