RUT August Iron Condor Closed.
This morning's selloff brought RUT below the next trigger point for an adjustment. As I wrote in this weekend's article, with RUT moving below 1220, the position was closed as follows:
Original position at entry:
- SOLD RUT August 1260 Call, 19.55 credit.
- BOUGHT RUT August 1310 Call, 1.90 debit.
- SOLD RUT August 1260 Put, 20.90 credit.
- BOUGHT August 1210 Put, 7.40 debit.
Order was filled as an "Iron Condor" for $31.15 net credit (all four legs).
Additional Order to cut Deltas on upside:
BOUGHT RUT August 1320 Call
Order for extra long call was filled for $1.10.
On Friday, July, the position was adjusted to the downside as follows:
BOUGHT RUT August 1260 Put, 32.40 debit.
SOLD RUT August 1210 Put, 11.60 credit.
SOLD RUT August 1240 Put, 21.90 credit.
BOUGHT August 1190 Put, 7.40 debit.
Net debit (all four legs): $6.30
Position Closing July 27:
BOUGHT RUT August 1260 Call, 4.40 debit.
SOLD RUT August 1310 Call, .45 credit.
BOUGHT RUT August 1240 Put, 32.60 debit.
SOLD RUT August 1190 Put, 12.10 credit.
Net debit (all four legs): $24.45
SOLD RUT August 1320 Call, .20 credit
This closing resulted in a loss for the position of ($50). Given the volatility since we entered the position, I will gracefully accept that and move on to the next trade. We will look forward to the next trade entry for the September cycle sometime the week of August 17.
As always, stay keen on your risk management and trade carefully,