Closed IWM July 52 Naked Put

I’ve been cutting it close on my IWM naked put ever since I sold it on June 18th at $2.60 and took in $249.25. As the Russell 2000 started to edge up yesterday I thought I should try to get out and possibly sell a lower strike for August. At the end of the day yesterday when IWM was trading at $49.68 I bought to close one July 52 naked put (IWMSZ) at $2.35 and paid $245.74 after commissions. I made $3.51 total.

This morning IWM traded more than a dollar higher than that and this option decreased by $0.94. I missed out some profit, but can now start over with a new position for August. I’m not sure when I’ll have the time to get back to it for a new trade, but will probably eye an at the money or out of the money strike this time.

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