Well, why wait until New Years to bring in the New Year? Let's start bringing in some premium for 2006 while we wait to bring in 2006. There's dandy support at the 620 level on the RUT. With the RUT trading at about 684.87.
Sell 15 Jan. RUT 620 puts
Buy 15 Jan. RUT 610 puts
Credit of about $.65 ($900)
This is just the bottom part of what we hope will develop into a nice Iron Condor. However, with the market moving up, there's no rush to put on the bear call spread.
If $.65 doesn't work, $.60 would also be a decent fill on this bull put spread.
Take care and trade smart!!