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SPX at 4720
I’m going to set up a Bear Trap with 26 days until expiration.
This is a combination of a 10pt wide put debit spread and a 50pt wide put credit spread.
I’m looking for a put debit spread for 2.00 debit and a put credit spread for 2.80 credit.
This should leave a NET credit of around 0.80c
The risk in this trade is $4,000 minus the $80 credit we’re collecting upfront or $3,920
I will stop out of this trade if SPX break under the short strike of the put credit spread.
Risk Profile:
Opening Order Ticket:
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