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Tuesday, February 12, 2013

February $SPX Call Credit Spread closed

Today I closed the February SPX 1530/1535 Call Credit Spread for 0.65 debit. The initial position had been entered for 0.70 credit so this trade resulted in a small 0.05 profit, which represents $25 in five contracts that were played. Basically just covering commission costs.

I would have liked to let this position expire worthless for full profit in the next two days, but with SPX hovering around 1520, that's just 0.6% away from my breakeven point, which is pretty achievable and I want to avoid complications.

There is still an SPX 1445/1450 Put Credit Spread expiring on Friday and also a RUT 855/860/935/940 Iron Condor. My plan is for them to reach expiration and maximize their profit potential, plus the saves in commission costs.

It's been a tough start to the year, but there's a long road ahead till year end.

Check out Track Record for 2013


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