Stock / Symbol: Russell 2000 / RUT;
Option Strategy: [private_monthly]bull put spread[/private_monthly];
Trade entry date / price: 15 Jul / $1272;
Price at this adjustment: $1208;
Reasoning: Going to put this trade back on but with one month further out and a 40 point lower strike for the short put.
Trade Adjustment Details:[private_monthly]
STO -1 RUT Sep15 1120 put
BTO 1 RUT Sep15 1110 put
for a min net credit of $1.00 per contract. (GTC order, limit order). The mid is currently at $1.00.
Max Risk: $925 (includes $25 loss from closed legs)
Max Reward: $75 or 8.1%[private_monthly] at / over $1120[/private_monthly] by Sep 18th
Profit Range: [private_monthly]at / over $1120 by Sep 18th[/private_monthly]
Suggested Upside stop: NA
Suggested Downside stop: $1155
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