MCD Butterfly Update
April 5th, 2011 
Genius I just exited the MCD butterfly I posted on the blog on 3/25.
I exited with a credit of 3.10.
I originally paid 3.11 for the trade so I lost .01 on 2 spreads or $2 plus commissions.
There is still 10 days left to expiration and MCD has not hit the expiration day break even yet, so according to the trading plan for the trade, I should have stayed in. But it feels like MCD will move higher and I wanted to get out before I started losing more money. For the 7 trading days I was in the trade, 5 days were up days.
There seems to be some resistance at 77 so the trade might still make money. Since I know that people have read it on the blog and might be following the trade, I decided to just exit here.
With the stock seemingly trading in a 73 – 77 range this one will be a good one to watch next month for a condor, butterfly or calendar, after its earnings come out.
