One of the very interesting, and recently more common, occurrences happened between Friday and Monday’s trading.
The Dubai news was quite a market driver. While it was bad for the Dubai Government, it was great for our swap. I ended up selling the MNX straddle at 11.45.
I was recently mentoring a student that had a split strike butterfly in MNX, or so he thought. I looked at the trade for a second; I quickly noticed that his wings were spaced REALLY wide.