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Friday, October 2, 2020

November RUT Elephant

Trade Details:

4 November RUT 1280/1270 Credit Put spread @1.00 credit each
2 November RUT 1750/1760 Credit Call spread @0.90 credit each

2 November IWM 175 Long Calls @0.63 debit

Net Credit: $454
Max Risk: $3,546

Risk Profile

 
 
RUT Chart for future reference:

 


Trade Update - November 10, 2020
 
 
Closed entire trade
 
This one was a good example of how the market rallied super hard after elections and yet it doesn't dramatically hurt the Elephant, which is still a winner.
 
4 November RUT 1280/1270 Credit Put spread @0.05 debit each
Original Credit was 1.00, so this is a 0.95 gain or  +$380 in 4 spreads.

2 November RUT 1750/1760 Credit Call spread @4.50 debit each
Original Credit was 0.90, so this is a 3.60 loss or -$720 in 2 spreads

2 November IWM 175 Long Calls @2.51 credit
Original debit was 0.63 debit, or 1.88 per contracts. For 2 contracts that is +$376

Combining all three:  +$380 - $720 + $376 = +$36
 
This tiny return represents a +1% return on risk
 
 
 
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