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RUT at 2291
I’m going to start a position in RUT with 59 days until expiration. We’ll look to scale into full size in 1/3rds.
First tranche is going to be a 70X60 Put Butterfly, centered at 2270. I am:
Buying 2330/2270 Put Debit spread
Selling 2270/2200 Put Credit spreadThis butterfly is currently going for 4.50-4.70 debit
Risk Profile:
Order Ticket:
NOTE: We’ll add the second tranche when RUT trades 50 points above the short strike of the first tranche or 2320 and I will add another 70X50 put butterfly, centered 40 points above the short strike of the first tranche.
Update:
RUT at 22.98
I moved all strike up 10 points.
I’m in RUT 30JUL 2210/2280/2340 Put Butterfly for 5.20 debit as tier 1
Risk Profile:
NOTE: Next adjustment when RUT is above 2330
RUT at 2333
It’s time to add Tier 2:
Video:
Order Ticket:
Risk Profile:
Next Adjustment point: 2370 or scale out if RUT trades under 2250
RUT at 2268
We’re not quiet at 2250 where I said I’d scale down, but with RUT moving almost 2SD today, this tells me that intraday vol is starting to pick up.
I’m going to play a bit more defensive here and take down Tier 2, leaving only Tier 1 open. I will add Tier 2 as I would normally do it IF/WHEN RUT trades back above 2330
Trade Update/Order Ticket:
RUT at 2341
I’m going to add Tier 2 butterfly, 70X50 for a debit of 3.00
Video:
Risk Profile:
Order Ticket:
RUT at 2310
I’m going to close out this trade (scaled 2/3 size) with 28 days until expiration and showing around 15%ROR
Close Tier 2:
Close Tier 1:
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