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SPX in turmoil
I’m putting on a Broken Wing Put Butterfly with 50 days until expiration. This trade is a bullish trade and we will need SPX to either go up, sideways or it can even go slightly lower, but not much lower than 4,000 level.
I’m buying a 25pt wide put debit spread and I’m selling a 50pt wide credit spread, looking for a NET credit of around 2.50
I got a fill for 2.40 credit and I will be looking to add to this trade if SPX pulls in a bit lower over the next few weeks.
Here are the trade details:
Video:
SPX at 4436
I’m going to close out this trade with 21 days until expiration. The remaining premium left in this trade is not worth the wait, IMO.
On to new setup next.
Risk Profile:
Order Ticket:
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