Notes: Opened a 10%-er (credit received is 10% of the width of the spread) in the expiry nearest 45 days 'til expiration. Will manage at 50% max or 2 x credit received.
For larger accounts, consider going wider with the SPY spread, or spreading /ES (e.g., January 15th 3220/3270, paying 262.50) (the equivalent of a 5 x 5* SPY) or SPX (e.g., January 15th 3275/3325, paying 5.10) (the equivalent of a 10 x 5 SPY).**
* -- 5 contracts of five-wide spreads. ** -- 10 contracts of five-wides.
Trading ditutup: target tercapai
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Out at the open (8:31:05 to be exact) for 50% max. 5% ROC for 10 days' work; 182.5% annualized.
@420snoop, The broad market 16 delta short put/short put vertical fun train will stop at some point. Statistically, those should "fail" about 15% of the time, if the POP %-age on fill is any indication.