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: $959
Current Position:
Short -1 RUT May13 955 calls
Long 2 RUT May13 965 calls
Short -2 RUT May13 970 calls
Long 2 RUT May13 980 calls
Reasoning: Upside stop of $955 triggered today so we're adjusting. We're up on the remaining 955/965 call spread so we'll close that. We're also going to buy back onf of the short 970 calls to allow for a further upside move in the RUT. Our put spread was closed out the other day for a $0.20 debit. .
Trade Adjustment Details:[private_monthly]
BTC -1 RUT May13 955 calls
STC 2 RUT May13 965 calls
for a min net credit of $2.50 per contract. (day order, limit order). Try for the mid less $0.10. The mid is currently at $2.90
Then,
BTC -1 RUT May13 970 call
for a max net debit of $6.50 per contract. (day order, limit order). The current mid is $6.00. Try for the mid plus 0.05.
[/private_monthly]
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