On 8/12/08 I BOT VERTICAL RUT 100 SEP 08 650/640 PUT @ $0.65 debit
SOLD VERTICAL RUT 100 SEP 08 690/680 PUT @ $1.70 credit
This brings my net credit to $4.20/ risk of 10-4.20= 72.4% ROI potential
Today, I needed to adjust my position again by adding:
SOLD -100 VERTICAL RUT 100 SEP 08 680/670 PUT @ $1.50 credit
SOLD -100 VERTICAL RUT 100 SEP 08 780/790 CALL @ $1.60 credit
This is the last 3rd of the whole position. I have been scaling into this trade as time progressed (1/3 at a time). Now I will hold this trade into Sep., but not to expiration. I will look to leg out of this trade as it moves in one direction or another. Since I am in 3 different ICs, it is best to leg out of this one vertical at a time so the order will fill. It is difficult to exit this trade in one whole chunk because most brokerages would see it as a complex order.
Tuesday, August 19, 2008
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