New Trade Entry : SPX Weekly Put Credit Spread for May 5 cycle. Below is the position entered this morning:

SPX Position Entered Friday, May 24, 7 days prior to expiration. The Option code for this cycle is: SPXW130531.


SPX May 5 Put Credit Spread shortly after entry




Time of entry: 11:00 am Eastern. SPX price: 1,641.45 at entry; VIX at 14.58

Trade Details:

SOLD May 5 1605 Put. Delta -.15 at time of entry

BOUGHT May 5 1595 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