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SPX at 4581.70
I’m setting up a Bear Trap with 21DTE
This is a neutral/slightly bearish trade and we need to see SPX pull back slightly over the next few weeks. A big move lower will put pressure on this trade, while a big move higher will allow us to keep initial credit for this trade.
I’m buying a slightly OTM put debit spread and I will cover the cost/risk by selling a further OTM put credit spread.
This trade will take up about 4k of BP. My stop will be on a break below downside breakeven.
Risk Profile:
Order Ticket:
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