RUT November Iron Condor Closed.
This morning's quiet start to the day allowed us to exit the RUT November Iron Condor for slightly more than our target. A summary of the position since entry on October 19, and closing details, follow:
- SOLD RUT November 1170 Call, 21.10 credit.
- BOUGHT RUT November 1220 Call, 2.70 debit.
- SOLD RUT November 1170 Put, 23.45 credit.
- BOUGHT November 1120 Put, 9.20 debit.
Order was filled as an "Iron Condor" for $32.65 net credit (all four legs).
Additional Order to cut Deltas on upside:
BOUGHT RUT November 1235 Call
Order for extra long call was filled for $1.05.
On Wednesday, 10/21, RUT reached the downside adjustment trigger point of 1160. The position was adjusted as per the guidelines; adjustment details follow:
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
Position closed October 27:
- BOUGHT RUT November 1170 Call, 12.00 Debit.
- SOLD RUT November 1220 Call, 1.05 Credit.
- BOUGHT RUT November 1150 1240 Put, 19.70 Debit.
- SOLD RUT November 1100 1190 Put, 6.60 Credit.
Closing order executed as a single order: BUY " Iron Condor" .
Net Debit to Close Iron Condor: $24.05 (all four legs)
- SOLD RUT November 1235 Call.
Net Credit to close Call: $45.
This closing resulted in a gain of $290, 5.8% of the gross margin and slightly above our target for the trade.
The next planned entry for the RUT monthly trade will be sometime the week of November 16 for the December cycle.
As always, stay keen on your risk management and trade carefully,