Stock / Symbol: S&P500 Index / SPX
Option Strategy: bear call spread (originally: bull put spread)
Original trade entry date / price: Jan 23 / $1822
Price at this post: $1840
Reasoning: Shitfting over to the Mar expiration options. For those new to this trade, this is a good entry point. We're going to put on a bear call spread now and look to add a bull put spread (making on iron condor) with any pullback in the market. The greeks on the call spread are: -4 delta, 5 theta, and -32 vega. Be sure to mind the posted upside stop.
Trade Details:
[private_monthly]
STO -2 SPX Mar14 1915 calls
BTO 2 SPX Mar14 1925 calls
for a min net credit of $0.45 per contract (day order, limit order). The mid is currently at $0.50. Try for the mid. If not filled today, it's ok to try again tomorrow.
[/private_monthly]
Max Risk: $1,910
Max Reward: $90 or 4.7% @ [private_monthly]1915 +[/private_monthly] by Mar 21
Profit Range: at/under [private_monthly]$1915[/private_monthly] by Mar 21
Suggested Upside Stop: 1864.50
Suggested Downside Stop: NA
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