RUT November Position Closed.

Not wanting to risk a continued upside move that would hurt the RUT Iron Butterfly further, the position was closed a short while ago. Closing details are as follows:

Bought November 1160 Call

Sold November 1210 Call

Bought November 1120 Put

Sold November 1070 Put

Net debit (all four legs): $24.03. RUT was at 1167.68 when the order filled. This represented a loss of ($701), or 14% of margin. This was above the pre-set max loss for the position as per the guidelines, but could have been much worse considering the strength of this morning's move.

There are no new trade recommendations for today. The action today, and all week for that matter, is just too risky for our trade strategies. I will put together some thoughts and post in the weekend update.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin