RUT Iron Condor (Jan’07, 34% so far)
Published on January 7, 2007
RUT Iron Condor (Jan’07, 34% so far)
I closed my 840/850 BCS by buying for $0.15. Now I am open on the bull put side (750/740) which is currently selling for $0.70 and there are 2 more week for the expiration. It is still above my threshold so I don’t want to buy this back yet.
With this purchase of BCS now I have already collected $2400 out of $3100 possible credit. That makes my profit to 34% already.
RUT now at $775 and one one 2 weeks left it is about to threat my sold leg $750. I will closely watch next week for any potential adjustments.
RUT is still at $775 but with the help of Theta this leg is now $0.90. 9 more days to go and current delta for 750 is $0.13, still below my safe zone. I am keeping it therefore.