RUT April Iron Butterfly Adjusted
The upside adjustment for the April position filled for $10.20 debit. Adjustment details are:
BOUGHT RUT April 1250 Call, 26.20 debit.
SOLD RUT April 1300 Call, 2.90 credit.
SOLD RUT April 1270 Call, 13.80 credit.
BOUGHT April 1320 Call, .70 debit.
Net debit (all four legs): $10.20
The graph of the adjusted position is below:
RUT April Iron Butterfly after adjustment:
The position summary after the adjustment is as follows:
SHORT April 1270 Call
LONG April 1320 Call
SHORT April 1250 Put
LONG April 1200 Put
The position is now a 20 point wide Iron Condor.
The next adjustment trigger point on the upside will be 1270, and remain at 1240 on the downside.
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,