In the suggested trade I just sent out, I mistakenly reversed the symbols. Below is how it should have read.
Most Couch Potato subscribers will notice the mistake, but this is for those who are new to the service.
Sorry for the confusion.
With the RUT just below 720, let's:
Sell 20 September 610 RUT puts - RUYUB
Buy 20 September 600 RUT puts - RUWUT
Credit of about $.55 ($1,100)
Maintenance is $20,000. Cushion is about 110 points and there are 7 1/2 weeks left to expiration.
The market is moving, so you might get a little more or little less than the $.55. If you are more conservative, wait for the RUT to come back down.
Be creative, but don't be greedy.
Take care and trade smart.