2 Days To Expiry
Looks like August is kind enough to give us our 16%!
Our Bear Call Spread was under threat over the weekend and on Monday. The SPX registered a high of 1313, just 17 points short of our short call at 1330. I did not check the delta at that point (I don’t watch the market all the time!) but I do recall that it was 18 at one point in the day. Yesterday’s 15 point in the SPX drop brought us a great deal of relief. Delta has dropped to 5 and the spread is now worth 0.40. Futures indicate a negative opening. I will not be closing the position, though it will help release the margin for our September trades. Our Bull Put Spread is 104 points away at this juncture and will expire worthless.
Market opens in 10 minutes….
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