SPX Trade 16

-2 1505/1510 SPX Bull put spread
(Half position)

Forms an Iron Condor with my 1610/1615 call spread

.30 gross credit

.15 delta currently. However, when I opened the trade it was around .10

Expiring: Friday, 4/19/2013 market open

Could have gotten .40-.45 credit per contract, but my limit order was put in earlier this morning and my phone died.

Market completely tanked after it broke 1570 support, last week’s breakout point. Boston marathon bombing news sped up the sell off.

Today’s entry wasn’t ideal, but we have 3 full trading days until expiration.

SPX monthly options trade until 3:15 central time Thursday, and the settlement price is what it opens at Friday morning at 8:30am.

Hope everyone is ok in Boston and keep them in your prayers.




One response to “SPX Trade 16

  1. i guess you don’t have to worry about that 1620 sPX anytime soon LOL!!

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