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SPX at 3691
We’re going to set up a Bear Trap with 44 days until expiration.
Cost: 0.75 debit
BRP: 30.75Risk Profile:
Order Ticket:
SPX at 3869
I’m going to move the lower end of the Bear Trap closer ATM.
This trade has 32 days until expiration and there’s still a good chance we might move toward the body of this trade or the Bear Trap as we call it.
This adjustment is going to bring in a credit which will cover all of the initial outlay and leave us with a small credit on the upside. This means that if SPX expires above 3460, we’ll get to keep the small credit.
The remains on the downside.
Risk Profile:
Order Ticket:
SPX at 4075
This trade is going to expire with all options OTM. We’re going to walk away with a small profit here
so you rolled your short put spread up 50.00? You didn’t want to close your Debit Spread?
This was the simplest adjustment to make and eliminate any risk on the upside
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