Not too long ago, I closed my 2017 Jan SPX Put butterfly with a profit of $720. Several days after my previous position, I initiated 2017 Feb SPX Put butterfly. As I said in my 2016 reflection, put butterfly is my bread-and-butter option trading strategy, which usually brings me consistent income every month.
Index butterfly is my butter-and-bread trading every month. I think 2017 off to a good start with my closing position in 2017 Jan SPX Put Butterfly.
As you see, I closed this position with $720! Think about it if you have a larger account and can trade 10X of my position.