Closed RUT butterflies for 15.8%

Well, good news and bad news. The bad news is that when I was in the process of taking some profit of the table, I took off the wrong trade. I had two RUT butterflies on. One from 14 days ago at a 490 center strike and up nearly 20%, and one from 7 days ago at a 500 strike up around 10%. I meant to take off the 490 strike one (since we were on an ascending wedge most of the morning, and above 500), but instead I took off the 500's. After lunch, and when RUT dropped down to 490, I decided to take off the entire trade, for a total of 15.8% after commissions. Not bad for 14 days. That was the good news.

Among other good news is that TEVA came back down a little, and IV's settled down slightly in my favor, putting this trade only -12% at the close, and still short 129 delta.

COST has earnings tomorrow morning. I'm a little cautious, but didn't take any action on my existing trade. I have fairly low deltas on this trade and could tolerate a -6%/+4% move, or probably more when the IV comes out of the butterfly after the announcement.

My WMT butterfly is doing okay, up almost 8% in 8 days. Also my June RUT high prob and low prob iron condors are doing well, both up around 6%. The low prob has been on for 7 days now. The center of that IC is 495, so the recent price action has been good. Adjustment will be at 472.50 and 517.50, or probably profit take at around the 15% level.

As for new trades, I've been thinking about opening up a tranche of my July RUT high prob. Thinking about short 380-570, current mid is $1.57, plus some extra longs on both sides.