Monday, 9 March 2009

SPX Put Credit Spread

I placed the SPX April put credit spread 525/540 for a limit of $1.10 before the market open. I got filled at $1.10 per contract. I have 38 days for the contract to expire.

The plan is for SPX to move or bounce up and the puts to lose volatility and time value. If all fails I will close the position if key support leves are breached or close before the last 10 days into the contracts.

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