RUT November Iron Butterfly Adjustment #2
Adjustment filled for $8.03 debit. RUT was at approximately 1142 when the order filled.
The graph of the adjusted position is below:
RUT October Iron Condor after adjustment:
The position summary after the adjustment is as follows:
SHORT November 1160 Call
LONG November 1210 Call
SHORT November 1120 Put
LONG November 1070 Put
The position is now a 40-point wide Iron Condor. It will remain open as long as RUT stays between the short strikes, as long as the max loss is not reached. If RUT reaches either short strike, the threatened side will be rolled again. At that point, as outlined in the guidelines, it will be most likely necessary to roll up the unthreatened side to get more credit in the trade.
The trade guidelines were most recently published on October 22, and can be found here: Link to Articles
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,