Strategy 2

Rules:
1. Sell new top (0.5-1SD)  top ATM 30-45 DTE straddle;
2. Buy 1-2 strike OTM PUT for downside protection;
3. Take 30% of max profit.
4. Roll if unprofitable.
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3/18/16-4/22/16  + 21 points of Realized Profit;   ~ -8 points of Unrealized Loss
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4/21/16 - 3/29/16  Chain of trades.
Violating Rule #1 is a bad approach. Let us execute Rule #4 against SP500 uptrend.

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
									10.0+51.0=61.0
4/21/2016 11:44	VERTICAL	SELL	-1	TO OPEN	/ESM6	2060	PUT	31.5	11.25
		BUY	1	TO OPEN	/ESM6	2010	PUT	20.25	CREDIT
4/21/2016 11:43	SINGLE	SELL	-1	TO OPEN	/ESM6	2060	CALL	63.5	63.5
4/21/2016 11:39	SINGLE	BUY	1	TO CLOSE	/EW4K6	2050	CALL	61.75	61.75
4/21/2016 11:37	VERTICAL	BUY	1	TO CLOSE	/EW4K6	2050	PUT	18.25	3
		SELL	-1	TO CLOSE	/EW4K6	2035	PUT	15.25	DEBIT

4/12/16 Rule #1 has been violated. That's because it is not a new trade. This is meant to improve
3/29/2016 entry.

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
									45.25+6.0=51.25
4/12/2016 11:52	SINGLE	BUY	1	TO OPEN	/EW4K6	2035	PUT	34.75	CREDIT
4/12/2016 11:47	STRADDLE	SELL	-1	TO OPEN	/EW4K6	2050	CALL	40.25
		SELL	-1	TO OPEN	/EW4K6	2050	PUT	39.75

4/11/16  
Out with +6 points instead of +10 points. That's because the trade didn't  work for 2 weeks.
I hope to reestablish this position with a better entry point.

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
4/11/2016 15:56	IRON CONDOR	BUY	1	TO CLOSE	/EWJ6	2045	CALL	21	24.8
		SELL	-1	TO CLOSE	/EWJ6	2130	CALL	0.45	DEBIT
		BUY	1	TO CLOSE	/EWJ6	2045	PUT	28.25
		SELL	-1	TO CLOSE	/EWJ6	2035	PUT	24

3/29/16 Original Entry

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
3/29/2016 14:35	IRON CONDOR	SELL	-1	TO OPEN	/EWJ6	2045	CALL	29.5	31.5
		BUY	1	TO OPEN	/EWJ6	2130	CALL	1.5	CREDIT
		SELL	-1	TO OPEN	/EWJ6	2045	PUT	29.75
		BUY	1	TO OPEN	/EWJ6	2035	PUT	26.25

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4/20/16 Closed on  4/22/16 +8 points

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
4/22/2016 9:09	SINGLE	BUY	1	TO CLOSE	/EWK6	2100	CALL	22.25	22.25

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
4/20/2016 11:41	SINGLE	SELL	-1	TO OPEN	/EWK6	2100	CALL	30.5	30.5

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4/13/16 Closed on  4/22/16 +1 point

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
4/22/2016 13:22	CUSTOM	BUY	1	TO CLOSE	/EWK6	2070	CALL	37.5	49.75
		BUY	1	TO CLOSE	/EWK6	2070	PUT	29.5	DEBIT
		SELL	-1	TO CLOSE	/EWK6	2025	PUT	17.25

Exec Time	Spread	Side	Qty	Pos Effect	Exp	Strike	Type	Price	Net Price
									51
4/13/2016 12:06	STRADDLE	SELL	-1	TO OPEN	/EWK6	2070	CALL	37.25	CREDIT
		SELL	-1	TO OPEN	/EWK6	2070	PUT	37.5
4/13/2016 12:06	SINGLE	BUY	1	TO OPEN	/EWK6	2025	PUT	23.75

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3/18/16-3/28/16  + 12  points