[Closing Iron Condor on Russell 2000 (RUT)]
Dear Member:
The iron condor on the Russell 2000 (RUT) has been excellent on paper. I am now going to try to convert that to cash and profit by placing an order to simultaneously close all legs at a debit limit of 25 cents. If filled, the trade will have made $2.60 or a return on risk of 37% in 3 weeks.
At a debit limit of 30 cents, complete the following simultaneously:
Buy to Close Dec 710 Put (RUTXB)
Sell to Close Dec 700 Put (RUTXT)
Buy to Close Dec 860 Call (RUZLL)
Sell to Close Dec 870 Call (RUZLN).
DISCLOSURE: At the time of publication, I have an iron condor with the referenced strikes and expirations on the Russell 2000 Index.
Sincerely,
Bill Kraft
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