RUT November Iron Butterfly Adjusted to Upside
The upside adjustment for the November RUT position filled for $7.65 debit, with RUT trading at 1224.90. Adjustment details are below:
BOUGHT RUT November 1210 Call, 33.45 debit.
SOLD RUT November 1260 Call, 8.00 credit.
SOLD RUT November 1230 Call, 21.10 credit.
BOUGHT RUT November 1280 Call, 3.30 debit.
Net debit (all four legs): $7.65
The graph of the adjusted position is below:
RUT November Iron Condor after upside adjustment:
The position summary after the adjustment is as follows:
SHORT November 1230 Call
LONG November 1280 Call
SHORT November 1210 Put
LONG November 1160 Put
LONG November 1295 Call bought at trade entry to cut position delta.
The position is now a 20 point wide Iron Condor.
The next adjustment trigger point will be either short strike, depending on overall position status and market conditions.
Trade updates will be posted as appropriate.
As always, stay keen on your risk management and trade carefully,