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Monday, April 1, 2019

May RUT Elephant

Trade Details:

4 May RUT 1400/1390 Credit Put spread @0.60 credit each
2 May RUT 1650/1660 Credit Call spread @1.10 credit each

3 May IWM 166 Long Calls @0.24 debit each

Net Credit: $388
Max Risk: $3,612

Risk Profile


RUT Chart for future reference:


Trade Update - April 9, 2019

Added one more IWM May 166 Call to flatten the T+0 line to the upside a bit more.
Debit invested 0.28
Now four IWM 166 Calls in total, $100 total debit paid for them. Avg Call option price is therefore 0.25





Trade Update - April 23, 2019

Closed the whole position:
 

4 May RUT 1400/1390 Credit Put spread @0.10 debit each
Original Credit: 0.60
Net Profit: 0.50 ($0.50 * 100 * 4 = $200)

2 May RUT 1650/1660 Credit Call spread @0.50 debit each
Original Credit: 1.10
Net Profit: 0.60 ($0.60 * 100 * 2 = $120)
4 May IWM 166 Long Calls @0.08 credit each
Original Debit: 0.25
Net loss: 0.17 ($0.17 * 4 * 100 = $68)


The total net result is  +200 + 120 - 68 = $252

On a Max Risk of $3,612 this is a  +7.0% Return on Risk.
We are out of the position 24 days before expiration, in order to redeploy this capital in the June cycle.

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