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SPY at 420.20
I’m going to put on a slightly bearish Put Butterfly. This position is more of a hedge for the longs that I am carrying and this trade will be assuming full risk. The risk in this trade is the debit paid to open this position.
I’m buying (3) 415/410 Put Debit spreads and I’m selling (2) 410/405 Put Credit spreads. This trade is currently going for a NET debit of 1.80-1.90
Risk Profile:
Order Ticket:
TOS order: BUY 1 -5/+2/+3 CUSTOM SPY 100 06 Jul 21/06 Jul 21/06 Jul 21 410/405/415 Put/Put/Put @1.86 LMT
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