It's about 12:30 and it seems the market is finally taking that dump that expected on the open.
With the RUT at about 690, let's:
Sell 20 August RUT 600 puts - RUWTT
Buy 20 August RUT 590 puts - RUWTR
Credit of about $.55 ($1,100)
Maintenance is $20,000. Cushion is about 90 points at this writing. You may get a little more or less depending where the market is trading when this email gets to you.
Be careful. Be creative, but don't be greedy -- and double check your option symbols before placing your trade.