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Thursday, May 19, 2016

June SPX Credit Put Spread

Just as planned over the weekend, today I initiated a June Credit Put spread position using SPX options.

It was a pretty well timed position this time. The trade was entered early in the session, as you can see by the tweet's time-stamp, and the market kept raising all afternoon.

Trade Details:
Sell 20 SPX June 1875 Put @5.75
Buy 20 SPX June 1865 Put @5.15

Net Credit: 0.60 ($1,200)
Max Risk: 9.40 ($18,800)
Days to Expiration: 29

Here's a chart after market close for future reference and study:
(Click on image to enlarge)

Trade Update (June 17, 2016)
The SPX 1865/1875 Credit Put spread expires for max profit. Total gain +$1,200. 29 days in the position.

Check out 2016 Track Record

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