With the recent downturn, let's see if we can put on another bull put spread -- way the hell out of the money.
With the SPX trading at about 1342, let's"
Sell 20 SPX March 1140 puts - SPTOH
Buy 20 SPX March 1130 puts - SPTOF
Credit of about $.60 ($1,200)
Net credit of about $.60 ($1,200). Depending on what the SPX does, you may be able to get $.60. If not, there's nothing wrong with $.50. We would have a 200+ point cushion.
Be careful, trade smart, and always double check the option symbols before you place the orders.