Stock / Symbol: Russell 2000 / RUT
Option Strategy: [private_monthly]iron condor[/private_monthly]
Trade entry date / price at trade post: Apr 17 / $905
Price at this adjustment: $931
Reasoning: With the latest standard deviation calculation giving RUT upside to 970 by May expiration, I'm adjusting the trade by buying back one of the short calls. This adjustment halts losses to the upside and gives us the ability to make money in the short term should the RUT continue higher. I will look for an opportunity to re-sell the 955 call in the coming days.
Trade Adjustment Details:[private_monthly]
BTC -1 RUT May13 955 call
for a max debit of $5.10 per contract. (day order, limit order). The current mid is $4.90. You should be able to get filled at the mid.
[/private_monthly]
Non-members, click here for access
