Thursday, 16 July 2009

Enterd Call Credit Spread in SPX

It's been a long time but just trade the my call credit spread in a long time. A bit cautious but getting in slowly. SPX is moving up and has already mad a substantial move. It's up around 70 points from the July lows.

I entered 1025/40 call spread giving $0.80 per contract. If it works out should be a nice return of 5%. The order is way above the 161%fib extension. The idea is the time would be lost by the end of the contract which has 35 days to expire.

Time to sit and watch.

0 comments: