$IYR Trade

New information coming out of the MTF is suggesting that the current trade we have on is not ideal for the new track. Therefore, we are going to adjust and reconstruct the trade a bit to a balanced butterfly.  

All in November, we have an 80/82/83 butterfly, 7 spreads.  Make it into a 79/81/83 butterfly. So: buy 14 $82 calls, sell 14 $81 calls... then sell the $80 calls, and buy 7 $79 calls.  

This creates $20 of slippage in profitability, but aligns the thesis better.