RUT 690 Call Calendar -Update 8/6

What happens when you don't quite follow your risk management and get greedy. You get smacked! That's what has happened to my RUT calendar position. The market continues its strength. It closed at 725.9. My position lost the entire +200 gain and now I'm down $85. We've rallied 20 points in three days.

I think that if the rut closed above 730, I need to close the position at a lost. Wishful thinking tells me that the gains in the past few days haven't been fully confirmed with above average volume.

Jobless claims and consumer credit data are coming out tomorrow. If these numbers are positive, then the strength will continue.