New Trade Entry. : SPX Weekly Put Credit Spread for May 4 cycle. Below is this week's position entered this morning:

SPX Position Entered Wednesday, May 15, 9 days prior to expiration:


SPX May 4 Put Credit Spread at entry




Time of entry: 10:30 am Eastern. SPX price: 1,648.60 at entry; VIX at 13.07

Trade Details:

SOLD May 4 1610 Put. Delta -.16 at time of entry

BOUGHT May 4 1600 Put

Credit received: $.90

Maximum margin/risk is $910. Maximum risk is the width of the spread ($1,000) less credit received $90).

Target Gain: $67.50 (75% of credit received). This gain represents a 7.4% gain on actual margin.

Maximum Loss: $90

I will post an update as the trade progresses.

As always, stay keen on your risk management and trade carefully.

Happy Trading,

Dot Hazlin