Stock / Symbol: Russell 2000 / RUT;
Option Strategy: [private_monthly]iron condor[/private_monthly];
Trade entry date: Jan 11;
Price at trade entry: $880;
Price at first adjustment: $884
Price at 2nd adjustment: $895.65
Price at this adjustment: $907
Current Position:
[private_monthly]
short -1 RUT Feb13 920 calls
Long 1 RUT Feb13 930 calls
short -2 RUT Feb13 820 puts
long 2 RUT Feb13 810 puts
[/private_monthly]
Reasoning: Despite being up 9.5% from it's low at the end of 2012, RUT is showing no signs of stopping. Going to take off the call spread for now to protect against further loss. Also, never did get filled on that roll on the put spread. When RUT shows signs of slowing, I'll look to add back a call spread and maybe roll up the put spread.
Trade Adjustment Details:[private_monthly]
BTC -1 RUT Feb13 920 call
STC 1 RUT Feb13 930 call
for a max net debit of $3.00 per contract. (day order, limit order). The current mid is $2.95. I got filled at $2.90
[/private_monthly]
Non-members, click here for access
