... for a 1.81/contract credit.
Metrics:
Max Profit: $181/contract
Max Loss: $319/contract
Break Evens: 1443.19/1626.81
Delta/Theta: -.81/1.82
Notes: Been a while since I've done any RUT. Collecting more than one-third the width of the wings with the shorties camped out around the 20 delta strike. Will roll the untested side on approaching worthless intratrade to bring in additional credit, improve break evens, and/or reduce max loss potential. Looking to take profit at 50% max (.90/$90).
Metrics:
Max Profit: $181/contract
Max Loss: $319/contract
Break Evens: 1443.19/1626.81
Delta/Theta: -.81/1.82
Notes: Been a while since I've done any RUT. Collecting more than one-third the width of the wings with the shorties camped out around the 20 delta strike. Will roll the untested side on approaching worthless intratrade to bring in additional credit, improve break evens, and/or reduce max loss potential. Looking to take profit at 50% max (.90/$90).
Note
You can't collect quite the same juice in RUT's ETF counterpart -- IWM -- with a 5-wide iron condor camped out at similarly delta'd strikes, which is why I went with RUT instead. You'd have to move into the 25 delta shorties to collect 1.86 (i.e., the July 19th 142/147/160/165).Trade active
Rolling the 1625/1630 short call vertical down on approaching worthless to the 1545/1550 for a 1.00 credit; scratch at 2.81.Trade active
Rolling the short put side up to the 1485/1490 for a .34 credit; scratch at 3.15.Trade closed manually
Covering this for 3.70, so a .55 ($55 loser). Net, however, .48 ($48) profit in July RUT positions with the other iron condor covered today. Just got a little too aggressive with the call side on this one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.