Stock / Symbol: Russell 2000 / RUT;
Option Strategy: bull put spread;
Trade entry date / price: 15 Jul / $1272;
Price at this adjustment: $1153;
Reasoning: Downside stop hit. Closing trade here to prevent further loss.
Closing Trade Details:
BTC -1 RUT Sep15 1120 put
STC 1 RUT Sep15 1110 put
for a max net debit of $2.45 per contract. (GTC order, limit order). The mid is currently at $2.45.
Max Risk: $925 (includes $25 loss from closed legs)
Max Reward: $75 or 8.1% at / over $1120 by Sep 18th
Profit Range: at / over $1120 by Sep 18th
Suggested Upside stop: NA
Suggested Downside stop: $1155
Realized Profit / Loss upon fill: ($170)
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