This trade I actually brutally copy/pasted from ZZ Capital Management (Martin writes an excellent blog at hellosuckers.net with a trade newsletter) Here is what Martin says: The market got hit by rising interest rates today. It dropped almost 2% and caused serious technical damage to the market. We decided to put a protective trade - SPY bearish butterfly:
Trade Alert: SPY Bearish Butterfly
Trade Alert: SPY Bearish Butterfly
Trade Alert: SPY Bearish Butterfly
This trade I actually brutally copy/pasted from ZZ Capital Management (Martin writes an excellent blog at hellosuckers.net with a trade newsletter) Here is what Martin says: The market got hit by rising interest rates today. It dropped almost 2% and caused serious technical damage to the market. We decided to put a protective trade - SPY bearish butterfly: