/6E Iron Condor partially closed, /ES Broken Wing Butterfly closing trade, new /CL & /ZB Short Strangles

/6E Opening trade setup

Bought back the PUT spread tested side on Mar 17.
Loss (after commissions) = $252.94


 

/ES Opening trade setup

Closed the trade on Mar 19.
Loss (after commissions) = $669.96


Opened Short Strangle in /CL on Mar 16. Opened Short Strangle in /ZB on Mar 19.

SOLD -1 STRANGLE /CLM5 1/1000 JUN 15 /LOM5 64.5/27.5 CALL/PUT @.42
SOLD -2 STRANGLE /ZBM5 1/1000 JUN 15 /OZBM5 181/149 CALL/PUT @0”23


YTD P&L

 

/ES (E-Mini S&P 500 Index Futures) Broken Wing Butterfly: 2/2/2015

BOT +2 BUTTERFLY /ESH5 1/50 MAR 15 /ESH5 1980/2000/2030 CALL @-3.75
Bearish bias
Order

Note: Commissions not included
Max. Profit = $2,375
Max Loss = $625.00
DTE = 45
BE = 2,024.00
POP =~ 63%
Max ROC  = 2,375/625 =~ 380% – this is only if the underlying closes exactly at 2000 (short strike) upon expiration.
Looking to buy the embedded short CALL vertical (-2030/+2020) for around 3.00.  Buying this for anything lower than 3.75 (credit collected for the trade) would turn the resulting regular butterfly (2000/2020/2050) into a risk free trade.

P&L diagram
Chart

/ES (E-Mini S&P 500 Index Futures) Broken Wing Butterfly: 1/6/2015 – Closing Trade

Opening setup/trade (Jan 6, 2015)

Closing trade (decided to close the trade instead of waiting to buy back the embedded vertical)
SOLD -2 BUTTERFLY /ESH5 1/50 FEB 15 /ESG5 2000/2020/2050 CALL @-.25
Debit = $25

Profit = $375 (credit collected from opening trade) – $25 = $300
Total commissions (opening & closing) = $44.96
Profit incl. commissions = 300  – 44.96 = $255.04

/ES (E-Mini S&P 500 Index Futures) Broken Wing Butterfly: 1/6/2015

BOT +2 BUTTERFLY /ESH5 1/50 FEB 15 /ESG5 2000/2020/2050 CALL @-3.75
Bearish bias
Order

Note: Commissions not included
Max. Profit = $2,374
Max Loss = $625.00
DTE = 50
BE = 2,043.75
POP =~ 63%
Max ROC  = 2,374/625 =~ 380% – this is only if the underlying closes exactly at 2020 (short strike) upon expiration.
Looking to buy the embedded short CALLvertical (-2050/+2040) for around 3.00.  Buying this for anything lower than 3.75 (credit collected for the trade) would turn the resulting regular butterfly (2000/2020/2050) into a risk free trade.

P&L diagram
Chart