Option Investor
Updates

FILLED AT $3.05

HAVING TROUBLE PRINTING?
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FILL AND ROLLThe market bounced up to 1275 to 1279 as soon as I sent the order and we got lucky. Hopefully you did too. We were able to buy back our 1250/1240 bull put spread for $3.05 - a pleasant surprise.

Now, since we still have a lot of time left in July, let's look for a roll within the July cycle to help us defray the $3.05.

With the market back at 1276, let's roll down to the 1190/1180 July SPX bull put spread. It looks like we can take in $.80-$.90.

Sell 25 July SPX 1190 puts - SPTSR
Buy 25 July SPX 1180 puts - SPTSP
Credit of about $.80 ($2,000)

Notice that I increased the contract size by 5 contracts. Every little bit helps.

Hopefully, an 80 point cushion will be enough for us for the July cycle.

Take care and trade smart!

Mike

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