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Tuesday, June 10, 2014

Jul/Aug SPY Put Calendar spread

Today I entered a 197 strike Put Calendar spread using July/August options:

This is essentially a Vega positive trade, that benefits form an increase in volatility. Along with the 191 Put Calendar spread this creates a 191/197 Double Calendar.

(Click on image to enlarge)

If SPY keeps going straight up and hits 200 I will be closing the whole thing for a small $120 loss.

Check out 2014 Track Record

Related Articles:
Weekend Portfolio Analysis (June 14, 2014)
Weekend Portfolio Analysis (June 21, 2014)
Weekend Portfolio Analysis (June 29, 2014) 
Closed 191/197 Double Put Calendar spread for profit on July 8, 2014

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  1. Dan from Theta TrendJune 12, 2014 at 1:22 PM

    Hey LT, I'm looking forward to seeing how this plays out! I haven't traded many calendars, but they've always been really interesting to me. Your trading with the commentary will add a lot of value. Thanks.

  2. Thanks Dan.
    Yes, definitely trickier positions to manage. Been studying them for a good while now and feel more comfortable with real money. Thanks for dropping by my friend.