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Monday, July 23, 2018

September RUT Elephant

Trade Details:

SELL 20 RUT September 1530/1540 Credit Put spreads @0.60 Credit
SELL   7 RUT September 1790/1780 Credit Call spreads @1.05 Credit

Long hedges:
BUY  14 IWM September 180 Calls @0.25
BUY   1  IWM September 158 Puts @1.04

Total Net Credit: $1,481
Days to Expiration: 60


Risk profile:
 

RUT Chart for future reference:


Trade Update (August 15, 2018)

Closed CALL Side entirely:
7 RUT September 1790/1780 Credit Call spreads @0.15 Debit
Original credit was 1.05. Net gain is 1.05 - 0.15 = 0.90 per spread ($90). $630 total.
 

14 IWM September 180 Calls @0.06 Credit
Original debit was 0.25. Net loss is 0.19 per contract ($19). $266 total

Combining both the RUT Call spread and the IWM Calls, the net result is a $364 profit.
Put side remains in play.




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