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SPX at 4430
I’m setting up a BEAR TRAP by:
Buying (1) 15OCT 4375/4350 Put spread
Selling (2) 3875/3825 Put spreadsRisk Profile:
Order Ticket:
SPX at 4538
I’m going to roll the PUT DEBIT spread to ATM. This will increase upside risk AND downside risk but will widen the potential profit zone.
This is what this adjustment will move the Risk Profile:
Order Ticket:
SPX at 4442
Now that SPX is inside our ‘TRAP’, I’m going to roll the upper long put down 15 points to eliminate upside risk.
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