With a little over two weeks left to expiration, it's time to put on one of our s for March. With the SPX at about 1325, we:
Sold 2 March SPX 1325 puts - SXYOE
Sold 2 March SPX 1325 calls - SXYCE
Credit of about $52.00
That gives us a profit range (at expiration) of 1377 down to 1273. I plan to hang on and let time decay do its thing and try to pick up perhaps $500 - $750.. I'll put out an order to buy back the position at about $48.00.
Let's see how it goes.
Trade smart and double check your option symbols before placing the order.