RUT February Iron Condor Adjusted to Downside
The downside adjustment for the February position filled for $5.55 debit. Adjustment details are below:
BOUGHT RUT February 1590 Put, 24.40 debit.
SOLD RUT February 1540 Put, 8.35 credit.
SOLD RUT February 1570 Put, 16.10 credit.
BOUGHT RUT February 1520 Put, 5.60 debit.
Net debit (all four legs): $5.50
The graph of the adjusted position is below:
RUT February Iron Condor after downside adjustment:
The position summary is as follows:
SHORT February 1610 Call
LONG February 1660 Call
SHORT February 1570 Put
LONG February 1520 Put
LONG February 1730 Call bought at trade entry to cut position delta.
The position is now a 40 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,