[Closing Call Side of Condor on Russell 2000 (RUT)]
Dear Member:
Only a couple of days ago, my condor on the Russell 2000 (RUT) was looking pretty good, but now the call side is in trouble. Tomorrow is the last day to trade and the index is in almost exactly the worst place it could be. I am placing an order simultaneously to close the call legs as follows: buy to close the May 730 calls (RUTEF) and sell to close the May 740 calls (RUTEH) at a debit limit of $6.90. If filled, the overall trade will result in a $2.30 a share loss.
DISCLOSURE: At the time of publication, I own the referenced condor on RUT.
Sincerely,
Bill Kraft
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