The fourth A14 campaign is closed.
The journal records $381.60 net profit, above the original $116 target, with one upside calendar adjustment.
I closed the position today, October 5. I could—and should—have closed it on October 2, when the system recommended taking profit. I was traveling, felt comfortable with the position, and chose to wait until Monday when I could sit down at my computer.
Here is how the trade unfolded.
From Entry to the First Decision
I opened two SPX put broken-wing butterflies on September 25, with an October 9 expiration and strikes at 7,700 / 7,660 / 7,610.
The campaign recorded a $320 entry debit, $2,320 modeled starting risk, and a $116 net profit target. This was also the entry where I deliberately tested a market order.
The first Friday review already called for an upside calendar, which I did not execute. By Monday, SPX had moved back below the upper long strike, and the recommendation returned to hold.
On September 29, SPX was 7,673.62 at the review—close to the 7,670 downside level, but still above it. No adjustment was triggered.
One Calendar Added
On September 30, a fresh check showed SPX at 7,717.69, back above the upper long. The system selected a 7,740 put calendar, which I opened at 11:23 a.m. ET:
Sell: 1 × Oct 9 7,740 PUT @ 69.40
Buy: 1 × Oct 16 7,740 PUT @ 88.90
Adjustment debit: $1,950
Commission: $3.26
The original butterflies stayed unchanged. This was the only adjustment I executed; the following reviews called for holding until the profit target was reached.
Friday’s Signal, Monday’s Exit
At the October 2, 3:30 p.m. ET review, the system estimated $360.10 net profit and recommended closing the entire position.
The target had been met. My decision to carry the trade over the weekend was a personal delay, not a new instruction from the strategy.
On Monday, October 5, at 9:47 a.m. ET, I closed all remaining legs for a 26.80 credit, receiving $2,680. Four calendar days remained before the front expiration.
The final result was slightly higher than Friday’s estimate. That worked out, but the extra weekend exposure could have gone the other way.
Final Trade Numbers
Opening butterflies: $320 debit
Upside calendar: $1,950 debit
Closing proceeds: $2,680
Gross profit: $410.00
Total commissions: $28.40
Final net profit: $381.60
The campaign finished $265.60 above its original target. OptionStrat shows the $410 gross result; the journal deducts commissions.
👉 View the completed position on OptionStrat
👉 Review the complete campaign history
Four campaigns are now complete. This one ended profitably, with a clear reminder for my own process: deciding when to exit also means making time to execute that decision.
Disclaimer
All content is for informational purposes only and does not constitute financial advice. Any trades or strategies should be tested in a simulated environment before use. Trading involves risk, and all decisions are the sole responsibility of the reader.