Out with 4.6% in a week!

I'm out of the trade. The market had risen enough and I saw an opportunity to get out with a decent return. Rather than wait for the contracts to expire worthless over a month, I got out reducing my exposure to volatile moves.

I originally entered the trade on 9th March for a credit of $1.10 per contract and closed my position today for $0.40 per contract. That gave me a profit of $0.70 per contract in a week. On margin of $1,500 per contract that gives me a return of 4.6% on capital invested, excluding brokerage costs.

I am still waiting to enter the call credit spread once the market is high enough. Watch this space.