Tuesday, May 12, 2009

RUT Iron Condor Hi Prob

The market has retraced the last few days from it's incredible bullish run. Maybe it's time to place an Iron Condor for the June expiration.

STO 3 RUT JUN 570/580 Call $0.80
STO 3 RUT JUN 410/400 Put $0.85

Potential Profit = $495
Max Risk = $2505

Current delta of the short strikes are ~10. Once price reaches near ~20 its time to adjust. Also if at anytime the profit reaches $380 its time to take the profit.

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