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Market has pulled back and a ton of theta has come in… I think some things also changed with the vol skew that has helped the trade as well.
The trade is up 25% return on risk after just under a week so it’s time to bail. If RUT moves big again we can consider putting something similar on.
Because the options have gone in the money it’s going to be a huge pain to exit. Here are the quotes I pulled and the suggested fills:
So a fill at 14.50 is pretty feasible here, especially heading into the close.
Once you get a fill to close out your butterflies, close out the long call for a loss. I’m seeing a fill of 4.30 on the RUT Jun 1290 call
The gains from the butterfly should well cover any losses from the long calls–remember to view these trades as in aggregate. This was a great winner in a very short amount of time.