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:
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.
Trade Update - October 25, 2019
Closed Put side of the position:
4 Nov RUT 1400/1390 Credit Put spread @0.15 debit each
Original credit received was 0.65 per spread
Net gain: 0.50 per spread = $200 in 4 spreads
Combining this Put side profit with the earlier Call side profit of $85, it is a total gain of $285
On an initial Max Risk of $3,630 in the position, this represents a +7.9% Return on Risk
The entire position is now closed, 21 days before November expiration.
Check out 2019 Track Record
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.
Trade Update - October 25, 2019
Closed Put side of the position:
4 Nov RUT 1400/1390 Credit Put spread @0.15 debit each
Original credit received was 0.65 per spread
Net gain: 0.50 per spread = $200 in 4 spreads
Combining this Put side profit with the earlier Call side profit of $85, it is a total gain of $285
On an initial Max Risk of $3,630 in the position, this represents a +7.9% Return on Risk
The entire position is now closed, 21 days before November expiration.
Check out 2019 Track Record
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