[Closing Put Side of Iron Condor on Russell 2000 Index (RUT)]
Dear Member:
The iron condor on the Russell 2000 index has become quite profitable with only today and tomorrow left to trade. I am now going to place an order to close the put side by simultaneously buying to close the Nov 770 puts (RUTWN) and selling to close the Nov 760 puts (RUTWL) at a debit limit of $1.00. If filled and as long as the RUT remains below 860 at expiration (currently over 792) the play will make a net before commission of $1.90.
DISCLOSURE: At the time of publication, I hold the iron condor on RUT.
Sincerely,
Bill Kraft
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