SPX Weekly Put Credit Spread closed for target.
This morning's open put the open position for January 1 in the "sweet spot". At approximately 11:00 am with SPX trading at 1847.13, our closing order executed to exit the position for a debit of .15. This represented a gain of $60 before commissions, or 6.5% total margin/risk.
The next trade entry will be Thursday, January 2 if market conditions are within the guidelines. At this point, it is most likely I will enter a Put Credit Spread for the January 2 weekly cycle
As always, I will wait the first hour until the market settles before entering. Entry details will be posted when the position is entered.
I wish each and every one of you a very Happy New Year, and look forward to sharing my trades with you in 2014!
As always, stay keen on your risk management and trade carefully,