Sold November $SPX 1755/1760 Credit Put spread for 0.30 credit
— The Lazy Trader (@lazytrading) October 1, 2014
Here are the details:
Sell 4 November SPX 1760 Put @7.55
Buy 4 November SPX 1755 Put @7.25
Credit received: 0.30 ($120 for 4 spreads)
Max Risk: 4.70 ($1880 for 4 spreads)
Break even point: 1759.70 (11% below SPX price at the time trade was open)
I didn't time this trade well. In fact, the market kept falling all day long and I could have sold several points below.
As usual, the chart of SPX at market close for future reference:
(Click on image to enlarge)
These are the current positions:
October RUT 1020/1030/1230/1240 Iron Condor
$332 credit, 88% probability of success, 15 days to expiration. Might need to adjust Put side if RUT hits 1060 or so.Current RUT price is 1085.
November RUT 970/980 Credit Put Spread
$120 credit, 89% probability of success, 50 days to expiration. Might need to adjust Put side if RUT hits 1040 or so.
November SPX 1755/1760 Credit Put Spread
$120 credit, 89% probability of success, 50 days to expiration. Will adjust if SPX goes down to 1850 or so.
Check out 2014 Track Record
Weekend Portfolio Analysis (October 11, 2014)
Spread is adjusted to 1595/1600 (October 15, 2014)