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Wednesday, January 25, 2012

Another SPY Credit Put Spread

Demo-trading:
SELL 13 SPY February 137 Call (@0.32)
BUY 13 SPY February 139 Call (@0.13)

Credit: $0.19 (0.19 * 100 * 13 = $247)
Margin: $1.81 (1.81 * 100 * 13 = $2353)

Break-even point(s): 137.19 (Currently at 132.20, the SPX index would need to go up to around 1370 in the next 23 days to cause a loss)
Probability of success: 78.25%
Days to expiration: 23
Max return on margin: 10.5%
Commissions: $39.00 (Assuming Interactive Brokers' schema for Canadians)

Order execution:
(Click on image to enlarge)

Profit picture:
(Click on Image to enlarge)

Check out demo-record

Related articles:
Weekend Thoughts (January 29, 2012)
Weekend Market Analysis (February 5, 2012)
February SPY Position Closed (February 16, 2012)  

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