SPX 3MAR 112 BEAR TRAP

[IgorKeymaster]

SPX at 3938

This is a new 112 Bear Trap in the 3MAR expiration cycle.

I’m buying 3840/3810 Put Debit spread and I’m selling 2 puts nakid at 3400 for every one put debit spread I am buying.

This trade is going for about 10.80 credit.

I will manage this trade from a NET delta POV IF/WHEN SPX gets inside the trap.

My stop for this trade is around 45.00 debit.

Risk Profile:

Order Ticket:

[IgorKeymaster]

SPX at 4146

I’m going to add a 111 Bull Trap

I’m buying a Call Debit Spread and I’m selling a naked call to pay for the call debit spread. This trade has 24 days left and hopefully SPX isnt going to make a strong push towards 4300. If it does move to 4300, I will need to stop out around that price level.

Risk Profile:

Order Ticket:

[IgorKeymaster]

SPX at 4124

I’m going to close the 111 Bull Trap for an additional 0.60c credit

Order Ticket:

[IgorKeymaster]

SPX at 4137

I’m going to close the short OTM puts for 0.80c debit because these puts have lost more than 90% of their value.

This leaves me with the original PDS for the next 18 days.

This put debit spread is going to act as a ‘hedge’ and if SPX pushes below 3810, this put spread will be worth it’s max potential value of 30.00

If the market is above 3840 by expiration, this remaining put spread is going to expire worthless.

Risk Profile:

Order Ticket:

[IgorKeymaster]

SPX at 3946

This trade is going to expire in 2 days. Here’s what current P/L graph looks like:

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