RUT February Iron Condor Adjustment #2 filled.
Adjustment filled for $8.25 debit. RUT was at approximately 1195.50 when the order filled.
A summary of the position since entering is as follows:
This monthly position was opened Tuesday, January 20; trade details are:
SOLD RUT February 1170 Call.
BOUGHT RUT February 1220 Call.
SOLD RUT February 1170 Put.
BOUGHT February 1120 Put.
Net Credit (all four legs): 36.50
BOUGHT February 1270 call (to cut deltas): $.90 Debit
Adjustment #1 to Upside January 22:
BOUGHT RUT February 1170 Call.
SOLD RUT February 1220 Call.
SOLD RUT February 1190 Call.
BOUGHT RUT February 1240 Call.
Net Debit (all four legs): $7.40
Adjustment #2 to Upside January 26:
BOUGHT RUT February 1190 Call.
SOLD RUT February 1240 Call.
SOLD RUT February 1210 Call.
BOUGHT RUT February 1260 Call.
Net Debit (all four legs): 8.25
The position is now a 40 point wide Iron Condor, with the short call strike at 1210, and the short put at the original strike of 1170.
The graph of the adjusted position is below:
RUT February Iron Condor after adjustment #2:
The trade guidelines were most recently published on October 22, 2014, 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,