[Closing Bullish Put Spread Side of Condor on Russell 2000 (RUT)]
Dear Member:
As with the recent alert on SPY, I would like to close out the remaining legs of my condor on the Russell 2000 (RUT). I previously closed the bear call legs and am now in a position to capture the lion's share of the profit in this play. I remain suspect of the markets and am following the old adage: "you can't go broke making a profit" so I am placing the following order:
Simultaneously buy to close the Apr 630 puts (RUYPF) and sell to close the Apr 620 puts (RUYPD) for a debit limit of $0.35. If filled at that price, the whole play will have realized a 26.7% return on risk before commission in 26 days.
DISCLOSURE: At the time of publication, I hold the referenced positions and have a May condor on RUT.
Sincerely,
Bill Kraft
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