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Tuesday, April 23, 2019

June RUT Elephant

Trade Details:

4 June RUT 1425/1415 Credit Put spread @0.60 credit each
2 June RUT 1680/1690 Credit Call spread @1.10 credit each

4 June IWM 169 Long Calls @0.27 debit each

Net Credit: $352
Max Risk: $3,648

Risk Profile

RUT Chart for future reference:



Trade Update - May 15, 2019

Closed Call side entirely

2 June RUT 1680/1690 Credit Call spread @0.25 debit each
Original Credit was 1.10 each
Gain: 1.10 - 0.25 = 0.85  or $170 in dollar terms

4 June IWM 169 Long Calls @0.07 credit each
Original Debit invested was 0.27 each.
Loss: 0.07 - 0.27 = -0.20 or -$80 in dollar terms for 4 contracts.

Combining both, there is a net $90 profit ($170 - $80)

Put side still in play




Trade Update - May 31, 2019


Close Put spread
4 June RUT 1425/1415 Credit Put spread @2.10 debit each

Net loss 1.50 per spread (0.60 - 2.10)
Total: $600


Sold new Put spread:
4 June RUT 1360/1350 Credit Put spread @0.70 credit each
New credit received: $280



Trade Update - June 21, 2019

Expiration Date
4 June RUT 1360/1350 Credit Put spread
Profit: $280

The position is now entirely closed.
Combining everything from the beginning:  +$90 - $600 + $280 = -$230

A $230 loss on a Max risk of $3,648 represents a -6.3% Return on Risk.


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