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Saturday, May 30, 2020

July RUT Elephant

Entered on Friday May 29

Trade Details:

4 July RUT 1140/1130 Credit Put spread @0.80 credit each
2 July RUT 1590/1600 Credit Call spread @1.00 credit each

2 July IWM 160 Long Calls @0.45 debit each

Net Credit: $430
Max Risk: $3,570

Risk Profile


RUT Chart for future reference:



Trade Update - June 8, 2020


Closed Call side:

2 July RUT 1590/1600 Credit Call spread @3.95 debit each
Original credit was 1.00. Loss of 2.95 per spread (-$590)

2 July IWM 160 Long Calls @2.75 credit each
Original debit was 0.45. Net gain of 2.30 per contract (+$460)


The Call side therefore results in a loss of $130

The Put side remains in play. With its $320 total credit, it has more than enough to compensate for this manageable loss on the Call side.




Trade Update - July 17, 2020

Put side expires
4 July RUT 1140/1130 Credit Put spread @0.80 credit each

Max profit reached of $320

This, combined with the earlier $120 loss on the Call side represents a net profit of $190
This return represents a +5.3% return on a risk of $3570


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