The RUT November Iron Butterfly has hit the upside adjustment trigger point, but we are not planning to adjust today.
The November Iron Butterfly position on RUT that we opened yesterday is hovering at the upside adjustment trigger point of 1220. The current position as of this writing is shown below:
RUT November Iron Butterfly:
Because we have the extra long call in place purchased at the time the trade as opened, the position is still holding up well, with the upper expiration breakeven still over 20 points away at 1245.
I'm hesitant to adjust the position so early in the cycle, so will let it go another day and see what tomorrow brings. If RUT continues to march upward from the adjustment trigger point of 1220, the trade will be adjusted. As always, it is a traders choice if you prefer to adjust the position today; depending on your market opinion and trading schedule.
Trade updates will be posted as appropriate,