RUT August Iron Butterfly Adjusted to Upside
The upside adjustment for the August position filled for $9.45 debit. Adjustment details are below:
BOUGHT RUT August 1430 Call, 26.85 debit.
SOLD RUT August 1480 Call, 4.60 credit.
SOLD RUT August 1450 Call, 14.80 credit.
BOUGHT RUT August 1500 Call, 2.00 debit.
Net debit (all four legs): $9.45
The graph of the adjusted position is below:
RUT August Iron Condor after upside adjustment:
The position summary after the adjustment is as follows:
SHORT August 1450 Call
LONG August 1500 Call
SHORT August 1430 Put
LONG August 1380 Put
LONG August 1500 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,