Trade Details:
4 January SPX 2790/2780 Credit Put spread @0.65 credit each
1 January SPX 3230/3240 Credit Call spread @1.10 credit
Net Credit: $370
Max Risk: $3,630
44 days to Exp.
Profit/Risk Profile
SPX Chart for future reference:
4 January SPX 2790/2780 Credit Put spread @0.65 credit each
1 January SPX 3230/3240 Credit Call spread @1.10 credit
Net Credit: $370
Max Risk: $3,630
44 days to Exp.
Profit/Risk Profile
SPX Chart for future reference:
Trade Update - December 16, 2019
Closed Call side at a loss
1 January SPX 3230/3240 Credit Call spread @3.00 debit
Original Credit received had been 1.10
Net loss: 1.90 ($190)
The Put side remains in play. With a $260 credit there, and looking very safe now, it should be a winner, enough to overcome the Call side loss and end up with a small profitable trade overall.
Trade Update - January 6, 2020
Closed Put side
4 January SPX 2790/2780 Credit Put spread @0.05 debit
Original credit received was 0.65 per spread
Net: 0.60 profit per spread = $240
Combining the gains from the Put side with the Dec 16 loss on the Call side, this is a small $50 profit.
Max Risk: $3,630.
Return on Risk: +1.4%
Closed Call side at a loss
1 January SPX 3230/3240 Credit Call spread @3.00 debit
Original Credit received had been 1.10
Net loss: 1.90 ($190)
The Put side remains in play. With a $260 credit there, and looking very safe now, it should be a winner, enough to overcome the Call side loss and end up with a small profitable trade overall.
Trade Update - January 6, 2020
Closed Put side
4 January SPX 2790/2780 Credit Put spread @0.05 debit
Original credit received was 0.65 per spread
Net: 0.60 profit per spread = $240
Combining the gains from the Put side with the Dec 16 loss on the Call side, this is a small $50 profit.
Max Risk: $3,630.
Return on Risk: +1.4%
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