Government shuts down and the rally resumes.
Today's rally came as a surprise to many traders, myself included. As of this writing, IWM is currently at $107.81, close to the upside adjustment point of 108.
As per the guidelines, it is recommended to roll out the call spreads at the adjustment point 3 points for a debit; the new call spreads will be -112/+117. To help offset the cost to roll out the calls, it is also recommended to roll up the put spreads 3 points for a credit. The new put spreads would be -101/+96.
It is also a trader's choice, after making the above adjustment, to increase the size of the position to help maintain credit in the trade. It is not recommended, however, to increase by more than 50% from the original position.
I will likely wait until towards the end of the day before making the adjustment to see if there's any kind of a pullback this afternoon, and will post an update with the details this evening.
As always, stay keen on your risk management and trade carefully.