Open Position: SPX Credit Spread for August 2 Cycle closed this morning.
This morning's open put the open weekly put credit spread in the red. Shortly after the open it appeared to me that the market was going to continue heading down, so the position was closed for a debit of $1.15. This represented a loss of ($34) after commissions. The order filled at approximately 9:36 am Est, with SPX at 1690.48. This represents a loss of 3.7% of actual risk/margin.
A trade update will be posted with new positions as they are opened for August 3. This cycle is the regular monthly cycle for August; the Option Code is 130817. Because this is the monthly cycle, there is one day less to trade next week; the last day to have a position open is Thursday, August 15 as SPX settles the morning of the 16th.
Stay keen on your risk management and trade carefully,