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SPX at 3951
I’m going to set up a new 112 Bear Trap as part of my weekly 112BT campaign. This trade is set up slightly lower than the last week’s trade but the entry criteria remains the same:
Buy To Open PDS around 35 delta and go 30pt wide
Sell To Open OTM put around 5 deltaLooking to collect around 10.00 – 10.50 credit
I will delta hedge this trade if SPX gets into the trade in the first 30 days. The max allowable loss is around the max profit inside the trap at expiration. If I collect 10.00 credit then my stop IF/WHEN this trade is down 30.00 + 10.00 or 40.00 debit.
Risk Profile:
Order Ticket:
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