2013 SPX trade 4

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!

photo

20130312-183924.jpg

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One response to “2013 SPX trade 4

  1. Good job! Hope this works out for you. I pulled a blunder today LOL! Oh well. Live and learn. Thanks for the post.

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