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NEW AUGUST CPTI POSITION

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NEW AUGUST CPTI PORTFOLIO POSITIONIt's Thursday morning and it's about time to dipping our toes into the August cycle waters.

So, with the SPX at about 1273, let's see if the market makers want to dance. We'll start with a bull put spread.

Sell 12 August SPX 1175 puts - SPTT0
Buy 12 August SPX 1160 puts - SPTTL
Credit of about $.60 ($720)

Cushion is almost 100 points. Maintenance is $18,000.

Now, as the market moves up or down a bit, you may have to adjust the credit limit to get filled. Remember, this is a suggestion, to be used as guidance. There is certainly some flixibility -- in the strikes as well as the credit.

Also, make sure to check your symbols before placing your orders. We'll keep on the lookout for a bear call spread to complete an Iron Condor.

Take care and trade smart!

Mike


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