RUT July Iron Condor adjusted to downside for the second time.
The second downside adjustment for the July position filled for $4.55.
Adjustment details are:
BOUGHT RUT July 1270 Put, 21.65 debit.
SOLD RUT July 1220 Put, 7.10 credit.
SOLD RUT July 1250 Put, 14.40 credit.
BOUGHT July 1200 Put, 4.40 debit.
Net debit (all four legs): 4.55
RUT was trading at approximately 1263.79 when the order filled.
The graph of the adjusted position is below:
RUT July Iron Condor after the second downside adjustment:
The position summary after the adjustment is as follows:
SHORT RUT July 1290 Call
LONG RUT July 1340 Call
SHORT July 1250 Put
LONG July 1200 Put
The position is now a 40 point wide Iron Condor.
The next adjustment trigger point will be at either short strike. However, since this position has already been adjusted twice due to the Greek crisis, if either short strike is reached I will evaluate a third adjustment, or possibly recommend exiting the trade.
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,