FINAL RESULT for QQQQ Butterfly (opened 15-May)

Original view was the Nasdaq already had a good run. Expect it to consolidate and stabilize around $33. At point of entry the risk/reward ratio was good (max potential gain was 200%). However, the tech bull continue to run and we lost.

Due to personal matter, have no access to trading account for 9 days. The exit criteria has surfaced several days ago but was not around to close it. Closed the QQQQ position today and lost about 69%. If closed earlier as planned the lost will be limited to less than 50%.

Manually closed the 3 legs one by one instead of using the Combo trade as the combo BUY/SELL spread is wide.

Bought the butterfly combo at $0.488 (i.e. 1.665 + 0.330 - 0.753x2) per contract.

Sold the combo at $0.150 (i.e. 0.01 + 0.18 - 0.02x2) per contract.
Loss is $0.338 per contract, i.e. 69% of original value.