Upper Leg Close
Step 1 of July’s strategy worked out nicely. I was able to book a 10% profit by selling out of the 710/720 Bear Call Credit Spread for .$05 per contract. If you recall, the initial credit on the 710/720 Bear Call was $1.05 per contract for a 10.5% potential ROI.
Step 2: Roll out the 690/700 Bull Put spread to August. With RUT trading below 600 today, who knows when that will be.
(RUT to 700, STAT!)
Lower Leg Roll Down & Out – Update 7/7
Managed to roll down and out from July 690/700 Bull Put Credit Spread to an August 680/690 Bull Put at a debit of .95 per contract. With RUT still trading around 600 still today, there is no viable spread above 690 to consider opening a bear call credit spread. Will just have to wait and see if RUT pushes back up.