SPX February Put Credit Spread closed for target.
The combination of a drop in volatility and a price move in the right direction put this weekâ€™s credit spread in the â€œsweet spotâ€. At approximately 1:00 pm, my closing order for .20 executed. This represented a gain of $65, or 7.1% of the risk.
Itâ€™s always a comforting feeling to take a trade off for a gain before a weekend, especially a long weekend.
The next weekly trade entry date will be next Thursday, as long as market conditions cooperate.
Enjoy the long weekend!