Today’s up move was no surprise, RUT simply tested the top of its channel along with the other indices.
On the August M3 trade, I rolled 1 – 700/750/800 butterfly to 720/770/820 and added 2 – 76 IWM calls. The position is up about $810 and is looking fine. We are pushing into expiration and if the market holds these levels or continues up, I would expect more frequent adjustments.
No adjustments were made on the September Bearish Butterfly
That’s it for now, happy trading!