Recommended Closing for RUT December Position.
For those of you who are following/trading the December RUT Iron Butterfly, you are well aware that market movement has caused us to have to adjust the position twice since entry, once to the upside and earlier this week to the downside. As of this writing, the position is currently +$178, or 3% of the margin. The current position is below:
RUT December Iron Butterfly:
While the position is fairly well centered, I am concerned about the monthly Non Farms Payroll report coming out before the open tomorrow and how it could adversely affect the position. Because of my conservative style of trading, I am recommending that the position be closed before the end of the day today. More aggressive traders may choose to stay in until full target gain is reached, but I will accept the gift after a difficult cycle and exit the position.
Trade exit details will be posted with exact fills.
As always, stay keen on your risk management and trade carefully,