We are going to:
1. BUY TO CLOSE 2240/2230 Bull Put spread
| IncomeLab Order Ticket | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| BTC | SPX | 7 APR 17 | 2240 | Put |
| STC | SPX | 7 APR 17 | 2230 | Put |
| Total Debit: | $0.40 | |||
2. SELL TO OPEN 2280/2270 Bull Put spread.
| IncomeLab Order Ticket | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| STO | SPX | 7 APR 17 | 2280 | Put |
| BTO | SPX | 7 APR 17 | 2270 | Put |
| Total Credit: | $0.80-$0.90 | |||
This trade is fine down to 2320 where it’ll start to accumulate long delta. With 30 days to go, the best case scenario for this trade is a drift sideways/lower over the next 3 weeks
P/L graph
