I made this trade last week on 3/14. Sorry it took a few days to post. Busy @ work and doing taxes.
Key things I focused on when I made this trade:
*Sp500 all time closing high is 1565
*Sp500 all time intraday high is 1576
*We were almost 10% above 200 day moving average of 1423 on the SPX
I felt like it could push to challenge highs this week and then pause and consolidate like we did when we first broke 1500.
Here is the parameters of the trade:
•1595/1600 call spread
•.09 Delta (91% chance of success @ the time I entered the trade)
•$111.84 net credit
•5.59% return in 15 days ($111.84/$2000 margin)
•option expiration is on march 29th