[Closing Condor on Russell 2000 Index (RUT)]
Dear Member:
My iron condor on the Russell 2000 (RUT) has a 25% return on risk (before commissions) in about three weeks and I have decided to take the profit before the weekend.
I am placing an order to close all legs for a debit limit of 50 cents. I received a $2.40 credit at entry so if I am filled, I will enjoy a $1.90 a share gain.
The following is the order I am placing simultaneously:
Buy to close Dec 710 puts (RUTXB)
Sell to close Dec 700 puts (RUTXT)
Buy to close Dec 860 calls (RUZLL)
Sell to close Dec 870 calls (RUZLN)
For a debit limit of 50 cents.
DISCLOSURE: At the time of publication, I own all legs of the referenced iron condor on the Russell 2000 Index.
Sincerely,
Bill Kraft
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