Well, the time has come. The SPX is at about 1501 and it's time to roll. We're going to turn our May position into a June position.
Money out is about $8520 and money in is about $9,000. If it all works out, we'll actually make $380 which will pay for the commissions with a couple of bucks left over. By the time this reaches you, the numbers will probably have changed a little. Remember, always double check the option symbols before placing your trade.
With an important economic jobs number coming out tomorrow morning, the market could go up 15 points or down 15 points. I may have balls of steel, but I'm not a complete idiot. It's not worth the risk.
We'll go into this whole adjustment in more detail in tonight's column.
Good luck and trade smart!
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