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5/24/2022 (10:36 am, PT)
buy +1 May 24, 2022 3995 call at $0.07 (prob ITM 0.62%)
sell -1 May 24, 2022 3945 call at $1.67 (prob ITM 9.73%)
- net credit: $1.60
- SPX = 3903 (-70.70)
- 0 DTE
5/24/2022 (12:55 pm, PT)
buy back the 3945 call at $0.40 to remove the risk
NET PROFIT: $116.46
This was a VERY stressful trade. At 12:39 pm, SPX hit a high of 3955.68 and my paper loss was $1000 (BAD).
The "ask" price for the 3945 short call didn't reach $0.05 until just 20 seconds before the Closing Bell (darn market makers!!).
SPX settled at 3941.48 (-32.27) . . . too close for comfort. I'm glad I bought back the 3945 short call at $0.40 so I could be done with the trade.
