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Wednesday, June 20, 2018

SPX credit call spread (options)

Wed. 6/20/2018 (9:42:13 am, PT)

sell -2 June 20, 2018  2775 calls at $1.95

  • probability ITM:  37% (a bit high, but acceptable)
  • I already had two long calls ("wings") (June 22  2845 calls) that were purchased for $0.30 on June 15 
  • margin:  $14,000
  • expiration:  1:00 pm (PT), June 20 (same day)


Wed. 6/20/2018 (11:57:19 am, PT)

buy back both short calls (2775 strike) at $0.10 to remove the risk

PROFIT:  $370 (in 2.25 hours)

Learn to SELL call options HERE