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BookingAlpha Option Trading Advisory

Friday, February 10, 2012

March SPY position closed


BUY TO CLOSE 14 March SPY 139 CALL @0.75
SELL TO CLOSE 14 March SPY 141 CALL @0.39
Debit: 0.36

The initial trade had been entered for a CREDIT OF 0.32. Closing the spread for 0.36, results in a loss of 0.04. In 14 contracts per leg = 14 * 0.04 * 100 = $56. See order execution below.

(Click on image to enlarge)
I was waiting for a decent pull back to close this position. SPY 139 looks certainly possible by March expiration. Better to leave with a small loss, and live the IWM Iron Condor in play alone.

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