RUT 18AUG EIP:
Trade Plan: Current profit target is around 800, same as stop loss. IF RUT trades below 1390 we’ll look to scale out of Tier 2. On the upside, if RUT trades above 1450 we’ll look to roll down some of the long puts on the upside to raise the right side of the P/L graph.
RUT 15SEP EIP:
Trade Plan: Current profit target is around 400, same as stop loss. We’ll look to scale into Tier 2 with RUT trading above 1450 and IF RUT trades 30 points below short strike of Tier 1 (1420) we’ll look to either move Tier 1 down to ATM or stop out for a loss.
SPX 31AUG ICBASE:
Trade Plan: We added more OTM options to hedge against a move higher and to reduce out NET delta and SPX traded lower since. The plan is to roll 2510/2520 when 2510 call reaches delta 30 (2485-2490) and take off the hedges when that happens. On the put side, the 2370/2360 put spread is holding up as volatility is already pretty low. IF the put spread trades below .40c – we’ll look to close it.