Well, last week I liked a 140 point range on the SPX for November. Today, it looks like we may be able to get a 110 point range on a Nov. RUT Iron Condor. Let's give it a try.
Sell 12 Nov. RUT 610 puts
Buy 12 Nov. RUT 600 puts
Credit of about: $.60 ($720)
Sell 12 Nov. RUT 720 calls
Buy 12 Nov. RUT 730 calls
Credit of about $.65 ($780)
Total net credit and potential profit of $1.25 ($1,500). Our maximum profit range is 610 to 720. The maintenance requirement will be $12,000 (IF you have the right broker).
I know that the RUT can be very difficult to negotiate with. You may or may not have to lower your credit limit to get filled. In this trade, I would suggest you put the spreads on separately instead of putting on the Iron Condor as a single trade.
Good luck and trade smart!
DENVER CPTI SEMINAR (Oct. 15/16)
Do you want to learn how to really negotiate with the market makers? Do you want to learn how to get that extra nickel or dime on every spread you trade? We spend hours on just that subject -- plus a lot more. The Denver CPTI 2-day advanced seminar is only about a week and a half away. There are still some spots left. Contact me at Contact Support for details.