NaughtyPines

OPENING: RUT SEPT 20TH 1350/1360/1640/1650 IRON CONDOR

TVC:RUT   Russell 2000 Index
... for a 2.90 credit.

Metrics:

Max Profit: $290/contract
Max Loss: $710/contract
Break Evens: 1357.10/1642.90
Delta/Theta: -1. 01 /2.20

Notes: A wider, longer-dated setup camped out at the 16 delta strikes for the expiry for the (ordinarily) sleepy summer months. I'm collecting a little less than my usual one-third the width of the strikes, but wanted more room to be wrong given the duration. Here, I'll look to roll in sides to delta balance as I would with any shorter duration setup, collect additional credit in the process, and shoot for bailing at 50% max.
Trade active: Rolling the 1350/1360 to the 1430/1440 for a .72/contract credit to delta balance; scratch at 3.62.
Trade closed manually: Closing manually here for a 3.20 debit (.42/$42) profit. Still have the 10-delta on.

Comments

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