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BookingAlpha Option Trading Advisory

Tuesday, October 3, 2017

November RUT Unbalanced Iron Condor

As explained over the weekend, going with an Unbalanced Iron Condor instead of an Unbalanced Elephant this time with RUT

Trade Details:

20 November RUT 1390/1380 Credit Put spreads  0.53 Credit ($1060)
5   November RUT 1580/1590 Credit Call spreads 0.99 Credit ($495)

Net Credit: $1,555
Days to Expiration: 44
Conservative Call side size once again, playing the 4 to 1 ratio of Puts to Calls which will allow me to not have to worry about the Call side unless RUT reaches 1,575

Profit picture:
(Click on image to enlarge)

A RUT Chart for future reference and self-study:
(Click on image to enlarge)

Trade Update - November 17, 2017

20 November RUT 1390/1380 Credit Put spreads  expire 
Original credit was 0.53. So, this is a $1060 gain.

5   November RUT 1580/1590 Credit Call spreads expire
Original credit was 0.99 Credit. The gain on this Call spreads is therefore $495

Adding both, the entire Unbalanced Iron Condor resulted in a $1,555 gain. The position was very easy to ride from the beginning with no threats at all.

If you are interested in a responsible and sustainable way of trading options for consistent income with solid risk management, consider acquiring LTOptions, my options trading system to the last detail.

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