$IWM Put Butterfly Options Expiration Adjustment

$IWM December Put Butterfly Update:

We had a nice gap lower in the Russell 2000 this morning and that put price right in the middle of the expiration break even points for the December position.  In the video below I take a look at an adjustment that cuts the downside risk and closes out part of the position.  Feel free to post questions in the comments below:

Update – After recording the video, I was filled and sold the 106/113/116 Put Butterfly I mentioned for a .33 credit.