RUT May Iron Condor Closed.

RUT has moved up beyond the expiration breakeven this morning. In the Weekend Update I wrote that it was recommended to exit the position at either breakeven, since this position has already been adjusted twice. At the risk of RUT moving even higher this afternoon, the position was closed this morning as follows:

- BOUGHT RUT May 1400 Call, 29.80 Debit.

- SOLD RUT May 1450 Call, 3.80 Credit.

- BOUGHT RUT May 1360 Put, 1.20 Debit.

- SOLD RUT May 1310 Put, .30 Credit.

Closing order executed as a single order: BUY " Iron Condor" .

Net Debit to Close Iron Condor: $26.90 (all four legs)

- SOLD RUT May 1460 Call.

Net Credit to close Call: $6.00.

This closing resulted in a loss of ($215), 4.3% of the gross margin.

Some traders may choose to operate on the "hopium" that RUT may pull back, but I felt it was better risk management to exit the position before the loss became greater. Subscribers that have been with the Couch Potato Trader for awhile can relate to my conservative style of trading, staying within the trade plan, even if it means taking a loss at times.

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

Dot Hazlin