Trade Details:

20 RUT 1320/1310 Credit Put spreads 0.60 Credit ($1200)
15 RUT 1475/1480 Credit Call spreads 0.45 Credit ($675)

plus

2/20 IWM Unbalanced Long Strangle. Strike prices 133/148
0.61 debit for each of the 133 strike Puts
0.18 debit for each of the 148 strike Calls.
Total debit paid: $482

Net Credit: $1393
Days to Expiration: 38

A little later than usual. Probably the narrowest of all Elephants I’ve ever played.
Elephants remain unbeaten (11 for 11) since inception (4 trades last year and 7 trades closed this year so far)

Profit picture:
(Click on image to enlarge)

A RUT Chart for future reference and self-study:
(Click on image to enlarge)

For details about the management of Unbalanced Elephant positions consider an LTOptions.com membership, where there is also material that discusses how to put this type of position in small accounts too.

Check out 2017 Track Record

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