2019-05-15
Will need to keep an eye on what it does here at the downtrend line and 50 MA.
As long SPY doesn't break 290.50, this spread is in a good situation. Absolute worst case scenario, this trade will close +100.
2019-04-28
SPY continues to fall lower. Looks promising for more short contracts.
Closed the SPY vertical spread. Selling was looking like it was running out of steam but it was mostly because the profit gains were almost maxed out. I would've benefited about $150 more in profit if tried to hold on to expiry, but I'd have to deal with potential snap back rally that could bring it back up to 285.
2019-06-07
Super impressed and happy that I closed that SPY put. I was worried about a fast snap back rally and it taking out a lot of the gains. Capitalizing on 95% of the maximum gain instead of waiting it out for the extra 5% was totally worth it. Was able to deploy the capital into other trades and no frustrations watching the P drop and the potential that this doesn't expire in max gain territory. Max gain was 285.
2019-06-20
Boy am I ever glad that I closed the spread when I did. I would've turned this trade into a loser if I had waited for expiration.
