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GTFO WITH HYPOTHETICAL PROFITS

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Hi Gang,

The market opened down and has lingered there for awhile. I guess I'm in a profit taking mode this morning.

With the SPX at about 1407 a couple of minutes ago (about 11:35 AM EST), I closed out our hypothetical short straddle (2 May 1390 puts & calls) for a debit of $37.30.

I took in $43.00. That leaves us with a profit of $5.70 x 2 contracts = $1,140 -- not bad for just a few trading days in the trade.

I may be leaving a chunk of money on the table, but it's OK with me. Other traders may be a bit more patient and may make out better, but I'm satisfied.

Now, I'll be looking for the next interesting opportunity.

Take care and trade smart,

Mike

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