RUT July Iron Butterfly Adjusted to Upside

The upside adjustment for the July position filled for $9.32 debit. Adjustment details are below:

BOUGHT RUT July 1410 Call, 28.32 debit.

SOLD RUT July 1460 Call, 4.90 credit.

SOLD RUT July 1430 Call, 16.00 credit.

BOUGHT RUT July 1480 Call, 1.90 debit.

Net debit (all four legs): $9.32

The graph of the adjusted position is below:

RUT July Iron Condor after upside adjustment:

The position summary after the adjustment is as follows:

SHORT July 1430 Call

LONG July 1480 Call

SHORT July 1410 Put

LONG July 1360 Put

LONG July 1480 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,

Dot Hazlin