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RUT at 1564
I’m going to scale in an Income Butterfly with 52 days until expiration.
I’m going to start with a 70X60 put butterfly centered at 1530.
I will add Tier 2 when RUT trades above 1580 and will center T2 butterfly 20 points above Tier 1.
Order Ticket Type Asset Duration Strike C/P BTO RUT 16OCT 1590 PUT STO X2 RUT 16OCT 1530 PUT BTO RUT 16OCT 1460 PUT Total Debit: 6.10 RUT at 1486
We burned 28 days in this trade and never had a chance to scale up, which is fine.
Closing out this trade for a small win is a great way to keep chipping away at it and we’ll look to set up new trade with more time to expiration.
Order Ticket Type Asset Duration Strike C/P STC RUT 16OCT 1590 PUT BTC X2 RUT 16OCT 1530 PUT STC RUT 16OCT 1460 PUT Total Credit: 9.60
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