I’m going to make several adjustments to this trade:
1. SELL TO OPEN 5 SPX MAY 1980/1970 Bull Puts, make it full position
SELL -5 VERTICAL SPX 100 MAY 16 1980/1970 PUT @.65
2. SELL TO CLOSE SPX MAY5 2170 Call (hedge)
SELL -2 SPX 100 MAY5 16 2170 CALL @3.80
3. BUY TO CLOSE 1 OF 10 SPX MAY 2135 Call
BUY +1 SPX 100 MAY 16 2135 CALL @8.60
I’m not planning on rolling up Bear Calls at this point, but I do want to keep P/L curve pretty flat.