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SPX at 4798
I’m going to set up a Bear Trap with 27DTE.
Buying a 10 point wide put debit spread for around $2.00 debit and selling a 50 point wide put credit spread for around $2.80 credit. This leave me with a NET credit of about 0.80c and no upside risk.
I will stop out of this trade if the underlying breaks below the short put of the put credit spread.
Risk Profile:
Order Ticket:
SPX at 4592
I’m going to roll long put spread down towards the short put spread, collecting additional credit
Risk Profile:
Order Ticket:
Filled 1.80 credit
SPX at 4456
I’m going to stop out of this trade
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