Become a Great Options Trader
By Steven Place
Going to start scaling into some call spreads here. I think we still run up to 2k but with implied volatility still pretty high I think you can get some decent fills here.
Sell to open SPX Sep 2070/2080 bear call spread @1.75 or higher.
Add to the trade at 2.25 and 3.00
Buy to close at 0.80
The gap down is giving us good prices to exit on this trade:
Buy to close SPX Sep 2070/2080 Call Spread @0.40
Net Profit: 1.35
Return on Risk: 16%
Trade Duration: 6 Days
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