NaughtyPines

ROLLING: IWM DEC 16TH 116/119/121/124 IRON CONDOR ...

AMEX:IWM   ISHARES RUSSELL 2000 ETF
... to JAN 20TH 119/122/125 iron fly for a .01 net credit.

With the short put side of the Dec             16th iron condor nearing worthless and rolling intra-expiry to a fly not particularly productive, I'm rolling this out to the Jan expiry, improving the call side a strike and rolling the put side into a fly, "keeping the dream alive." Rolling is never fun, but it's the nature of the beast if you do not want to just take the loss and walk away.

This is one that will probably have to be worked a couple of cycles to get to scratch ... . IWM/RUT has just ripped brutally to the upside ... .
Comment: Since I'm at heightened risk of assignment of short shares here with the 122 being deep ITM and combined with the ex-divvy date, I'll close out this call side at NY open ... . As with my Dec 23rd 130/135, sometimes you just run out of time to fix things, and you need to take the loss and move on.
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