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Friday, September 20, 2019

November RUT Elephant

Trade Details:

4 Nov RUT 1400/1390 Credit Put spread @0.65 credit each
2 Nov RUT 1680/1690 Credit Call spread @1.00 credit each

3 Nov IWM 169 Long Calls @0.30 debit each

Net Credit: $370
Max Risk: $3,630

Risk Profile

RUT Chart for future reference:

Trade Update - September 30, 2019

Closed Call side of the position:

2 Nov RUT 1680/1690 Credit Call spread @0.20 debit each
Original credit received was 1.00 per spread
Net gain: 0.80 per spread = $160

3 Nov IWM 169 Long Calls @0.05 credit each
Original debit paid was 0.30 per contract
Net loss: 0.25 per contract = $75

Combining the results $160 - $75 = +$85 gain
The max possible gain on the Call side was $110, so we've achieved way more than half the max and we are still 46 days away from expiration, which gives a chance for re-deployment of a new Call side.

Check out 2019 Track Record

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