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Thursday, October 13, 2016

December SPX Credit Put spread

Today I initiated a December position, going out in time a little further than usual. I don't want to add anymore November exposure due to the elections:

Trade details:

SELL 20 December SPX 1870 Put @9.95
BUY  20 December SPX 1860 Put @9.30

Total  Credit received: $1,300
Days to expiration: 63

An SPX chart for future reference and self-study:
(Click on image to enlarge)
Stochastics and McClellan Oscillator both oversold. In addition, only 26% of stocks were above their 20 Day Moving Average at the time of the trade.

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