Stock / Symbol: Russell 2000 / RUT;
Option Strategy: bull put spread;
Trade entry date / price: Aug 12 / $1141.93
Price at trade exit: $1155.28
Reasoning: Our bull put spread on RUT is already up over 7% after just a few days. No sense in waiting another 30 days or so for the last bit of yield on the trade. Going to lock this win in now. Current greeks are: 1 delta, 2 theta, and -6 vega.
Closing Trade Details:
BTC -2 RUT Sep14 1040 puts
STC 2 RUT Sep14 1035 puts
for a max net debit of $0.15 per contract. (GTC order, limit order). The current mid is $0.15.
Max Risk: $900
Max Reward: $100 or 11.1% at / over $1040 by Sep 19
Profit Range: $1040+ by Sep 19
Suggested Upside stop: NA
Suggested Downside stop / adjustment point: $1085
Realized Profit / Loss: $70 (or 7.7%) in just 7 days!
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