RUT June Iron Butterfly Adjusted to Downside.
The downside adjustment for the June position filled for 5.50. Adjustment details are:
BOUGHT RUT June 1110 Put, 34.50 debit.
SOLD RUT June 1060 Put, 13.70 credit.
SOLD RUT June 1090 Put, 24.40 credit.
BOUGHT June 1040 Put, 9.10 debit.
Net debit (all four legs): $5.50
The graph of the adjusted position is below:
RUT June Iron Butterfly after downside adjustment:
The position summary after the adjustment is as follows:
SHORT RUT June 1110 Call
LONG RUT June 1160 Call
SHORT RUT June 1090 Put
LONG RUT June 1040 Put
The position is now a 20 point wide Iron Condor.
The next adjustment trigger point will be at either short strike, although we may be able to let it go a bit on the downside as the expiration breakeven is now 1063.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,