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Friday, July 17, 2020

August RUT Elephant

Trade Details:

4 August RUT 1250/1240 Credit Put spread @0.80 credit each
2 August RUT 1640/1650 Credit Call spread @1.00 credit each

2 August IWM 164 Long Calls @0.66 debit each

Net Credit: $398
Max Risk: $3,602

Risk Profile


RUT Chart for future reference:



Trade Update - August 7

Closed Call side

2 August RUT 1640/1650 Credit Call spread @1.05 debit each, a 0.05 loss, or $10

2 August IWM 164 Long Calls @0.40 credit each, a 0.26 loss, or $52

Total Loss $62

The Put side remains in play with its $320 credit, enough to overcome this small loss of the Call side



Trade Update - August 18

Closed Put side
4 August RUT 1250/1240 Credit Put spread @0.05 debit each, for a 0.75 gain
Total gain $300

This profit, combined with the earlier loss on the Call side of $62 results in a net +$238 gain
On a max initial risk of $3,602 this represents a +6.6% Return on Risk


Check out Track Record


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