I am going to close out original put spread here. It is currently showing mid price of .30c and I don’t expect much more premium to come out of there even as SPX trades higher. I am also going to sell a put spread higher in strikes, I’m looking for about a 12 delta put and keep the spread 10 pts wide. On the call side, 2090 call is currently 18 delta and I will re-balance NET delta of this position WHEN/IF it runs to 20.
Close original Put spread: BUY +10 VERTICAL SPX 100 (Weeklys) APR4 16 1760/1750 PUT @.30 LMT
Open new Put spread: SELL -10 VERTICAL SPX 100 (Weeklys) APR4 16 1850/1840 PUT @.85 LMT
