One day before RUT expires, I closed my RUT Butterfly spread for a break-even trade.
It was added as an adjustment to the smooth portfolio. At the time, I placed a limit order that was $0.05 above mid price and it was filled within 10 minutes, as market was fluctuating a little bit. Today, the bid/ask prices to sell the butterfly was wide. The bid was around -$1.10. Yes, it's a negative sign here. The ask was around $4 and mid was $1.20 to $1.70 for a while. My limit order of $1.65 was filled in about half an hour as RUT dipped temporarily.