JUN1 IC was +$705 on $9,045 margin. I had a partial fill to close (5 of 10 contracts remaining). You can track 2016 trades here
I look for options that have 45 days or more to expiration to avoid theta decay of those options. Going closer to expiration you might run into a scenario where SPX moves up slowly and when it’s time to roll up the spread, the option that was bought as a hedge lost value (due to time decay) and it’s not helping to pay for the roll. So as a rule of thumb, I buy OTM calls to hedge/remove NET delta and when I roll the ‘bad’ spread I also take off the hedge and I use profits from the hedge to help pay for the adjustment.