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Showing posts with label SPX Aug 15 2018 220/2840 credit call spread. Show all posts
Showing posts with label SPX Aug 15 2018 220/2840 credit call spread. Show all posts

Wednesday, August 15, 2018

SPX credit call spread (options)

Wednesday, 8/15/2018 (Expiration Wednesday)

Trade 1 (10:46:21 am, PT) ← SPX trading around 2814

buy +4 August 15, 2018  2840 calls at $0.05 (cheap wings)
sell -4 August 15, 2018  2820 calls at $1.70 (delta 28)


Trade 2 (11:45:59 am, PT)

buy back short calls (2820) at $0.30 (to take profits)


Trade 3 (11:57:24 am, PT) ← SPX trading around 2810

sell again -4 August 15, 2018  2820 calls at $0.45 (delta 12)


Trade 4 (12:58:01 pm, PT)

buy back short calls (2820) at $0.40 (to remove the risk .... things got too crazy 😖😖)
let long calls (2840) expire worthless

PROFIT:  $560 (in 2 hours)

Note:  SPX closed at 2818.37 at 1:00 pm, PT