Stock / Symbol: Russell 2000 / RUT
Option Strategy: iron condor
Price at trade entry: $780.48
Trade entered on: March 15th
Reasoning: At only 11 days into it, this trade has moved very nicely in our favor, giving us the possibility for an early exit at about 80% of the trades full profit potential. We may not get filled right away, but we're going to set a GTC buy limit order for a debit of $0.25 to close the trade. If we haven't been filled by April 8th, we may cancel the buy order and just let the position expire worthless to capture the full trade yield of 15.6%
Trade Details:
[private_monthly]
STC 2 RUT Apr11 690 Puts
BTC -2 RUT Apr11 700 Puts
BTC -2 RUT Apr11 890 Calls
STC 2 RUT Apr11 900 Calls
for a net debit of $0.25 per contract
Cost/Proceeds: $50
Estimated Commission $12.95
Max Risk: $1730
Max Reward: $270 or 15.6%
Profit Range: $700 - $890
Reward if filled at $0.25/contract: $220 or 12.72%
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