Option Investor
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ADDING SOME FUEL TO THE FIRE

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ADDING FUEL TO THE FIREGood Morning CPTIers,

Based on yesterday's show of market strength on the rebound after the London bombings, I feel relatively comfortable doing the following:

Sell 12 SPX August 1145 puts
Buy 12 SPX August 1130 puts
Credit of about $.90 ($1,080)

We already have this position as part of our previous SPX August Iron Condor. I'm going to add 12 more contracts to the put side. We will look to possibly add the top side of the Iron Condor possibly later today or Monday. Maintenance on these 12 new contracts is an additional $18,000.

Have a great Friday and trade smart!

Mike

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