RUT November Iron Butterfly Adjusted to Downside.
The downside adjustment for the November position filled for 5.10. Adjustment details are:
BOUGHT RUT November 1170 Put, 31.50 debit.
SOLD RUT November 1120 Put, 12.90 credit.
SOLD RUT November 1150 Put, 22.30 credit.
BOUGHT RUT November 1100 Put, 8.80 debit.
Net debit (all four legs): $5.10
RUT was trading at approximately 1154.48 when the order filled.
The graph of the adjusted position is below:
RUT November Iron Butterfly after downside adjustment:
The position summary after the adjustment is as follows:
SHORT November 1170 Call
LONG November 1220 Call
SHORT November 1150 Put
LONG November 1100 Put
The position is now a 20 point wide Iron Condor.
The next adjustment trigger point will be at either short strike, depending on the position status and overall market conditions at the time the trigger is reached.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,