RUT JUN Paper Trade Update 2

All trade ideas on this blog are for Educational Purposes Only and are not recommendations.

We're going to close out half our JUN RUT paper-trade position tomorrow because we are within 10-4 days from expiration AND we have reached our top goal of a 100% return. (Or plan was to close the trade once we had reached a profit target of between 50% to 100% ROI and since we are at the top of that range we are going to bank the profits on this first half and watch the other have VERY carefully so we can lock in profit there too)

We will let the other 1/2 run until Monday or until we feel the risk exceeds holding out for more profit.

We originally sold the JUN Tight Iron Condor 730/740/720/710 for $8.57 making our risk on the trade $1.43 per contract (we sold 10 contracts).

We have an order in to buy back 5 IC's at $7.10 for a profit of $1.47 or $735. If we get filled at $7.10 or better we will have reached our goal of 100% ROI and will have achieved this in a little over 3 weeks using very little of our own capital and with a max risk of $1.43 per contract. Our max exposure for 10 contracts was $1430 + commissions. We will post our total return and give the last update once we have completely closed out the position.

For more details about this trade click here.

RUT JUN Paper Trade on Analyze Tab:
The white curve is the profit curve as of today and the red vertical bars define our break even areas of 689 on the bottom and 757 on the top. These areas will move closer together over the next week as we get closer to expiry and gamma risk kicks in.