Option Investor


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Hi Gang,

With the huge volatility present in today's market, we have a chance at something that option sellers only dream about. Below is a position that may have very little chance of getting filled. But, if we don't put the order out there, we'll never know. If it works, we'll have a 200 point cushion.

With the SPX at 1462.85, let's:

Sell 20 September SPX 1260 puts - SZPUL
Buy 20 September SPX 1250 puts - SZPUJ
Credit of about $.80 ($1,600)

Again, this may work and it may not. Double check your strikes and symbols and let's hope for the best. You may have to settle for less credit, but the huge cushion makes it incredibly appealing.

Good luck and trade smart.


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