RUT May Iron Butterfly Adjusted

The upside adjustment for the May position filled for $9.25 debit. Adjustment details are:

BOUGHT RUT May 1260 Call, 28.90 debit.

SOLD RUT May 1310 Call, 4.50 credit.

SOLD RUT May 1280 Call, 16.40 credit.

BOUGHT May 1330 Call, 1.25 debit.

Net debit (all four legs): $9.25

The graph of the adjusted position is below:

RUT May Iron Butterfly after adjustment:

The position summary after the adjustment is as follows:

SHORT May 1280 Call

LONG May 1330 Call

SHORT May 1260 Put

LONG May 1210 Put

Plus: LONG May 1320 Call to cut deltas.

The position is now a 20 point wide Iron Condor.

The next adjustment trigger point on the upside will be 1280, and remain at 1250 on the downside. The trade guidelines were most recently published on October 22, 2014, and can be found here: Link to Articles

Trade updates will be posted as appropriate.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin