The RUT has resumed its downside move and is @ around 1061. This is positive for our trades, it gives us a ton of upside breathing room while maintaining good theta and even a large correction would still be profitable. Lots of room on each side, though we are in the sea of death on one of the accounts. The sea of death is that little dip area between my original Rhinos and the call hedges. In this area the T+0 line will start to sag as time goes on. Ideally we have another 2-3% down move to get us in the tent. I am going to look at how I can correct this a bit. On my bigger account, the goal is to break even and we’ll do this if RUT stays in a decent range and we’ll profit significantly if it falls another 3%. On my other two accounts I should be able to profit decently unless RUT breaks 1105 and continues upwards. All in all, we’re now likely to have a modest month overall with no loss despite the 16% up move after we put the trades on around 950-960. I guess I shouldn’t jinks myself but I am happy if we get out of this at $0. That was a rough start to the year. A 20% correction followed by a 16% up move while in both expirations. Challenging and probably what I’d call a “Trader maker” if you can survive it.