Status report on SPX weekly credit spread for January 2 cycle.
SPX closed Friday at 1831.37, about even with the previous day. Below is the January 2 weekly credit spread as of the close:
SPX January 2 Put Credit Spread Friday:
The position is currently +$12.54, or 1.4% of the total margin/risk. Our â€œGood to Cancelâ€ order remains in place to close the position for a debit of .15, which would represent a gain of $60 before commissions. However, I would not hesitate to close the position for .20 if the opportunity represents itself. Sometimes trying to hold out for that last nickel is difficult to get filled.
The position will exited for the above gains, or the pre-set maximum loss of $75.
I will post a trade update early next week.
As always, stay keen on your risk management and trade carefully,