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SPX at 4520
I’m setting up a Bear Trap with 45 days until expiration. This is a bullish/neutral trade and we need the market to either go up, sideways or drift lower. We do not want a sharp move down in the next 4 weeks
I’m buying a 10pt wide put debit spread and I’m selling a 50pt wide put credit spread. I’m looking to collect 1.40-1.50 credit for this trade.
My stop is IF/WHEN SPX trades below 4050
Risk Profile:
Order Ticket:
SPX at 4242
I’m going to roll the short leg of the put credit spread down 20 points. This adjustment is going reduce risk on the downside but it’ll also add risk on the upside. The best case here is SPX is between 4050 and 4400 over the next 14 days.
Order Ticket:
Risk Profile:
SPX at 4361
I’m going to take this trade off here
Risk Profile:
Order Ticket:
4.60 credit filled.
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