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Friday, January 6, 2017

February 2017 SPX Unbalanced Elephant

Trade Details:

20 SPX 2125/2115 Credit Put spreads 0.55 Credit ($1100)
8 SPX 2350/2360 Credit Call spreads 0.90 Credit ($720)

plus

2/12 SPY 216/236 Unbalanced Long Strangle (.77 debit for the 216 Put, .31 debit for the 236 Calls. $526 total debit)

Net Credit: $1294
Days to Expiration: 42

Very low volatility. The long Strangle portion of the Elephant will act as hedge. Time to lower expectations.

Profit picture:
(Click on image to enlarge)

For details about the management of Unbalanced Elephant positions consider an LTOptions.com membership, where there is also material that discusses how to put this type of position in small accounts too.

Check out 2017 Track Record


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