Bought SPY 197 July/Aug Put Calendar for 0.98 debit. Now forming Double Calendar with existing 191 Puts
— The Lazy Trader (@lazytrading) June 10, 2014
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
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