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Thursday, March 22, 2012

April SPY Spread closed

Demo-Trading:

BUY TO CLOSE 14 April SPY 145 CALL @0.24
SELL TO CLOSE 14 April SPY 147 CALL @0.08
Debit: 0.16

The initial trade had been entered for a CREDIT OF 0.26. Closing the spread for 0.16 debit results in a profit of 0.10. In 14 contracts per leg = 14 * 0.10 * 100 = $140. See order execution below.

(Click on image to enlarge)

Taking advantage of the pull back today, feeling that the 145 short strike might be threatened by April expiration.


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