Our JP Morgan adjusted broken wing butterfly is trading at a small loss to break-even depending on your fill prices from our adjustment. JPM goes ex-dividend tomorrow, so rather than trying to manage the trade again, let’s close it and we will re-set the trade later this week.

TRADE CLOSE

JP Morgan (JPM): 136.52

TRADE ACTION:  CLOSE JPM 6 Jan (23) 127 / 132 put and the JPM 6 Jan (23) 132 / 133 call for a net debit of around 1.15 to 1.20

STC the JPM 6 Jan (23) 127 put

BTC the JPM 6 Jan (23) 132 put

BTC the JPM 6 Jan (23) 132 call

STC the JPM 6 Jan (23) 133 call

The Master Portfolio is trading 5 contracts.