Let's take a look at another August position. With the SPX at about 1524.50, let's:
Total net credit of about $1.45 ($1,740). Maintenance of $18,000. Maximum profit range of 215 points -- 1400 to 1615.
Double check the strikes and symbols before placing the trade and adjust the number of contracts to your account size and risk tolerance.
Good luck and be careful. Happy 4th of July!!
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