In the previous post, I mistakenly typed "calls" instead of "puts" for the Sept. RUT 620 puts.
I know that 90% of you will have interpreted what I wrote the right way, but for those 10% who are confused, here is the way the previous post should have read:
With the RUT trading at about 685.
Sell 12 September RUT 630 puts
Buy 12 September RUT 620 puts
Credit of about $.85 ($1,020)
Cushion is about 55 points with a lot of support levels above the short strike. Maintenance is $12,000.
I see a number of contracts have already been filled. If you need to, it's OK to drop it from $.85 to $.80 or even $.75. I would hope that you would think of doing that on your own if you were having a problem getting filled.