This is SonnysMoney’s SPX trade for next week. This trade is for options that expire next Friday, March 22nd.
-5 contracts (I went with 5 instead of my 4 because I did a 3 contract trade for this week’s spreads)
1580/1585 call spread
Weekly options expiring next Friday
net credit = $219.82
+8.78% return in 11 days if all options expire. ($219.82/$2500 margin)
.15 delta (85% chance of my positions expiring for full profit)
I entered this trade in two parts. I sold -4 contracts @ .45 credit and once the market made a new high I sold the other one for .50 credit. It’s important to set limit orders ahead of time and be patient.
If I would have waited a bit more, I would have gotten .50 credit or even more for all of my contracts.
Good luck to everyone!