Friday, February 27, 2009

RUT Condor 2-27

Not much to report today... it was another day to sit tight and do nothing. We garnered another couple of hundred bucks on the RUT condor, and one of the legs hit it's profit trigger.

This morning the RUT gapped down and traded down at it's low in the first few minutes of the morning. My uppermost call spread in the trade was triggered to buy back at 15 cents by the time I was able to check email at 7am. As I mentioned yesterday, I am not adding any more legs for the March campaign, so the remaining legs will gradually be cleaned up, barring a major move down.

Good Trading...

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