Here’s a screenshot of the trade I want to take, including potential fills:
The Call side is going for 1.25, the put side is going for .80. I think if you walk the call side down to 1.20 you’ll get filled just fine.
The reasoning behind going half size on the call side is that the biggest risk remains to the upside… so if SPX squeezes higher we can then roll and add to the call side, which shouldn’t cost much.
Target exit date is May 20th.
Didn’t have to do anything here, and we’ve got 30 days to opex which is the right time to take this trade off the table.
Buy to Close SPX Jun 1930/1920 Put Spread for 0.40
Buy to Close SPX Jun 2190/2200 Call Spread for 0.40
Margin and P/L
Spread Width: 10,000
5 Call Spreads @1.25 = 625
10 Put Spreads @.80 = 800
Put Side Profits:
10 Put Spreads @0.80, Exit at 0.40
Call Side Profits
5 Call Spreads @1.25, Exit 0.40
Total Profit: 825
Return on Max Risk: 9.6%