Stock / Symbol: S&P 500 / SPX
Strategy: Bull Put Spread
Trade entry date / price: 10 May 2021 / $4229.50
Price at this post: $4070
Update / Reasoning: Didn't get filled on the attempt to add a Bear Call Spread to the position on Monday. With today looking to be an ugly day, I'm entering in a closing order now, attempting to just get out at a break even. If the SPX touches below, $4030, I'll adjust the position.
Trade Exit Order:
BTC 1 SPX 19May21 4030 put
STC 1 SPX 19May21 4020 put
For a max net debit of $0.20 per contract (day order, limit order). The mid is currently at a debit of $0.85.
Analysis:
Max Risk: $980
Max Reward: $20 or 2% with SPX over $4030 on May 19th
Profit Range: SPX at/over $4030 at market close on May 19th
Estimated Commission (round trip): $5.20
Downside Stop: @ $4030
Anticipated Profit / Loss upon fill: $0 (pre commissions)
