NaughtyPines

BOUGHT TO COVER RUT AUG 12TH 1170/1180 SHORT PUT VERT

NaughtyPines Updated   
TVC:RUT   US Small Cap 2000 Index
With 7 DTE here and with the short put vert side of this post-Brexit troubled setup nearing worthless, I covered the short put side for a .13 debit ($13). I then rolled the short call side up and out from the Aug 12th 1170/1180 to the Aug 19th 1215/1230 for a .26 ($26)/contract credit and sold the Aug 19th 1190/1200 short put vert against for a 1.02 ($102) credit, so that I'm net credit for the roll. That being said, I'll still need price to move back lower for me to get out of this trade at scratch or better.

It's one of a trio of index trades (SPX, NDX, and RUT) put on post-Brexit that are giving me a headache in this up move.
Trade closed manually:
Closing out the put side for near worthless and taking the loss on the call side. Like my SPX iron condor, best to move on to higher probability setups in higher volatility instruments, rather than tying up buying power trying to work this back to scratch. Ordinarily, I don't walk away from a loser ... .
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