RUT September Iron Condor Closed.
Today's continued selloff brought RUT below the recommended exit point for this monthly position. As I wrote in this morning's article, with RUT moving below 1170, the position was closed as follows:
BOUGHT RUT September 1210 Call, 8.50 debit.
SOLD RUT September 1260 Call, 1.10 credit.
BOUGHT RUT September 1190 Put, 37.50 debit.
SOLD RUT September 1140 Put, 17.40 credit.
Net debit (all four legs): 27.50
SOLD RUT September 1280 Call, .20 credit
This closing resulted in basically a breakeven for the trade (+$15 before commissions). 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 which will hopefully have a smoother ride.
As always, stay keen on your risk management and trade carefully,