Spent more than an hour trying to get filled on $RUT Feb. 940/930 Credit Put spread for 0.60 credit. No fills. Unbelievable. Wont chase.— The Lazy Trader (@lazytrading) January 7, 2016
SELL 7 SPX March 1675 Put (@12.25)
BUY 7 SPX March 1650 Put (@10.50)
Net Credit: $1,225
Max Risk: $16,275
Days to Expiration:71
Note to LTOptions members: The content update on why I am experimenting with these longer dated options is taking me longer than I expected. So, this Saturday I will send an email with the basic points and how I plan to manage these positions. This email will then give me time to complete the documentation.
SPX Chart at market close for future reference
(Click on image to enlarge)
Closed position at 1.70 debit during morning market rebound (link to time-stamped tweet). Profit is 0.05 or $35 in monetary terms for 7 spreads. Closing early to alleviate triple downside exposure in the portfolio. Only Two Credit Put spreads on after this and no Credit Call spread at the moment.
Check out 2016 Track Record