Sell 15 September RUT 640 putS - RUYUH
Buy 15 September RUT 630 puts - RUYUF
Credit limit of about $.45 ($675)
Sell 15 September RUT 760 calls - RUTIL
Buy 15 September RUT 770 calls - RUTIN
Credit limit of about $.80 ($1,050)
Total net credit and profit potential of about $1.25 ($1,875). Maximum profit range of 640 to 760 -- a decent range, but not as large as we would prefer. Maintenance is $15,000.
We're hoping the market levels off a bit after this current run-up. I wouldn't bring in the strikes any closer. This position is slightly more aggressive than others we have done. It may not be for everyone. Let your risk tolerance be your guide. Good luck and be careful. Always double check the option symbols before you place your orders.