RUT – Mar IC (690/680/510/500) x 2
3. Closed Trades, Closed - Loss Trades, Type - Iron Condor February 5th, 20104/2/10 – This will be my last trade for the March expiration cycle. I decided to take 2 trades instead of the usual 1, just so I can use up a bit more of my spare buying power. I received $1.23 to risk $1,000 per contract over 42 days.
19/2/10 – Closed the puts for $0.15 leaving me with the calls on for a net $1.08 with 28 days remaining.
20/2/10 – Had to roll the calls up from 670/660 to 690/680 at a cost of $1.25 meaning I now have those calls on for a net COST of $0.17 with 25 days remaining.
24/2/10 – Closed the calls for $0.15 leaving me with a total loss including commissions of $84 over 21 days.
Peter
February 19th, 2010 at 5:27 am
If RUT keeps going up, are you going to adjust 670/660 soon? The delta for 660 is 18 now.
February 19th, 2010 at 10:51 am
Hi Sonny,
yes, as per my rules, I will look to roll up the calls when the delta on the 660 call hits around 24. At the moment I am targeting a roll up at when RUT gets to around 632 as from what I can see, that is when my deltas will be too high.
Peter.