Closed March $SPY 191/193 Call spread for .33 debit. That's a 0.17 loss ($187)
— The Lazy Trader (@lazytrading) March 6, 2014
The spread was originally entered for 0.16 credit so this is a 0.17 loss or $187 in 11 contracts. I did this in front of the jobs report of tomorrow. Obviously, SPY shouldn't hit 191 just like that tomorrow. But even if it goes beyond 189, which is pretty close, it would be a real headache for me.
So, I closed the position for a small loss. If we rally tomorrow morning I will consider entering an SPX 1930/1935 Spread in March. If we sell off, then I won't do anything and in spite of the losses this month, there is still potential for a positive March come expiration.
These are the current positions in the portfolio:
March SPY 159/161 Bull Put spread. $143 credit
March RUT 940/950/1240/1250 Iron Condor. $460 credit.
April RUT 1080/1090/1280/1290 Iron Condor. $480 credit.
Check out 2014 Track Record