New Trade : RUT

Stock / Symbol: Russell 2000 / RUT

Option Strategy: [private_monthly]iron condor[/private_monthly]

Price at trade post: $818

Reasoning: With 34 days till September expiration, it's time to put on a new [private_monthly]Iron Condor on RUT. The calls we're selling have a delta of .13 and the puts we're setting have a .05 delta. The probability of success on this trade is 88%. If RUT either trades up to $842 or down to $745, we'll either stop out of the trade or adjust by rolling to a further out of the money call or put spread. As usual, once filled, immediately set separate GTC orders to buy back the put spread and the call spread for $0.15 each. [/private_monthly]

Trade Details:[private_monthly]
STO -1 RUT Sep12 860 call
BTO 1 RUT Sep12 870 call
STO -1 RUT Sep12 720 put
BTO 1 RUT Sep12 710 put
for a min net credit of $1.25 per contract (day order, limit order). If not filled today, ok to try again Monday.

Requirements:
Cost/Proceeds ($125.00)
Option Requirement $1,000.00
Total Requirements $875.00
Estimated Commission $12.95

Max Risk: $875
Max Reward: $125 or 14.2% between $720 and $860 by Sep 21
Profit Range: $718.75 to $861.25 by Sep 21
Suggested Upside stop: @ $842
Suggested Downside stop: @ $745
[/private_monthly]

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