I exited the march bearish butterfly today with a profit of $262, this is.over the $200. reduced target being less than 21 days till expiration. Total commissions paid during the trade were $192.leaving a net of $70.

Yearly chart of RUT

I then entered a RUT Bearish Butterfly  that is much more efficient in terms of the commission. the 750,800, 850 Butterfly for a price of $1070.so when It reaches 840 and 860 I will add butterfly and will roll at 860, 870, 880, 890, 910, 930 and so on. I will roll the butterfly back to the closest ATM strike if the price exceeds 40 points below the short strikes. Adjustments may also be needed if the Delta/Theda ratio is greater than 1.5 or the delta exceeds 25 (during the 1st third) in an absolute basis.

The Risk Graph of the 800 Butterfly

The 5 day 5 minute chart with the red line showing the first add point

The profit target is $1500.

Reduced profit target 21 DTE $500.

Max loss is $1500.