On last Thursday, the 2 month out paper portfolio experienced a bull attack on the up side when the bulls reached the east boundary of the portfolio break-even points. The weaker RUT position suffered a small temporary blow as shown in the P&L chart below. Note the delta reached -52 with about 8 weeks to expiration. If the portfolio were built with shorter term options, it would cause lot more damages.
mind set of successful traders.
Note: There was cancellation trade for RUT Jan$830c. It resulted margin increase of $2000 and the new profit in the chart should be reduced by $870. I was busy testing different strikes and forgot to verify the existing strikes after I chose the final butterfly strikes.