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NEW CPTI POSITION ALERT

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NEW CPTI PORTFOLIO POSITIONHi Guys & Gals,

Market looks strong -- strong enough to make me feel that it's safe to go back into the water.

Let's use our favorite index -- the SPX -- and put on a bull put spread -- for September. Yes, you heard me right -- September.

Sell 12 SPX September 1165 puts
Buy 12 SPX September 1150 puts
Credit of about $.85 ($1,020)

With the SPX trading at about 1237, we'll have about a 70 point cushion with a variety of support levels above us. Maintenance is $18,000. We'll look for opportunities to put on a bear call spread to complete our potential Iron Condor.

Adjust the number of contracts to your account size. You can start by asking $.85. If you don't get filled, you might lower your credit limit a nickel here and there.

Good luck and trade smart!

Mike

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