RUT March Iron Butterfly Adjusted
The upside adjustment for the March position filled for $7.70 debit. I am working from a remote office with spotty internet connection, so I made the adjustment before connectivity is lost again. Adjustment details are:
BOUGHT RUT March 1010 Call, 31.20 debit.
SOLD RUT March 1060 Call, 7.00 credit.
SOLD RUT March 1030 Call, 19.20 credit.
BOUGHT RUT March 1080 Call, 2.70 debit.
Net debit (all four legs): $7.70
The graph of the adjusted position is below:
RUT March Iron Butterfly after adjustment:
The position summary after the adjustment is as follows:
SHORT March 1030 Call
LONG March 1080 Call
SHORT March 1010 Put
LONG March 960 Put
The position is now a 20 point wide Iron Condor.
The next adjustment trigger will be at either short strike, depending on position status and market conditions at the time the trigger is reached.
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As always, stay keen on your risk management and trade carefully,