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In the closeout of the CME, I was typing so fast that I inadvertantly wrote "credit" when it should have said "debit." Most CPTI students knew what to do, but it must have been confusing to some of the newbies.

It should have read as follows:

Time to close out the CME bear call spread. I just closed out the position when it busted through $230 for a debit of $3.50.

Buy back the June 230 calls
Sell the June 240 calls
Debit of about $3.70

Sorry about that.

Mike

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