$IWM Put Options Butterfly Adjustments Considered and Explained

Video update:

We’re about two weeks from the December expiration and $IWM is up above 117 again, which is creating a potential problem for the December Options Butterfly. In the video below I go through two potential Butterfly Adjustments for the December position. Specifically, I consider a long call and rolling up some of the short options. The video also includes short-term technical analysis for $IWM as it relates to the position. A close above 118 is going to be significant for the position and trading into the 118.25 level and above sometime soon will probably trigger an adjustment. Feel free to post questions in the comments below this post.