I've closed my Russell 2000 Aug. bear calls for a very nice profit yesterday. Today I opened up bear calls at 750/760. Kind of playing defense as well for my bull puts as I see the Russell 2000 as weaker than the S&P 500. While I don't see a move of the Russell to the 630 price point it sure could vist 645 and I'm hedging that move. With all this going on I'm taking in more credit for Aug. which increases my return to 35% in 55 days, in turn I'm going to need to hold the August trade longer than I initally wanted. Holding most likely 52 of the 55 days. So as of now 42 dys left before RUT 2000 August expiration.
I'll be watching my 630 short as time moves on and roll it IF needed. I would rather defend it than move it at this time. If we move down to that point I will be able to close out my 750/760s for a profit. Profit on the topside again which would help on the bottom roll.
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