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Thursday, August 10, 2017

October 2017 RUT Credit Put Spread

Trade Details:

SELL 20 October RUT 1200 Put @7.20
BUY 20 October RUT 1190 Put @6.60

Net Credit: 0.60 ($1,200)
Days to Expiration: 70

A little far from expiration, all due to the fact that two positions already exist in the September cycle (an Iron Condor and an Elephant) both with downside exposure. So, I went with the next upcoming cycle. Given how far it is from expiration, I don't plan to hold this one all the way to the end.

Nice market sell off today, leading to the first oversold condition of the year. Crazy that we had to wait until August.

A RUT chart at market close for future reference:
(Click on image to enlarge)

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