SPX April 2 Credit Spread Stopped Out.
This was one of those mornings similar to a few weeks ago where the market turned south immediately after I opened the new position.
A short while ago the OCO triggered and the position was closed for a debit of $1.50. Unfortunately, this resulted in the pre-set max loss for the position.
It appears that the market is continuing down, at least for the time being. As of this writing, SPX is down over 12 points, just about a one day standard deviation.
I am not recommending another trade entry today; I will look ahead to next week's trade, taking my lumps and happy that keen risk management took me out of the trade before the loss got out of hand.
I will outline a suggested SPY monthly trade for the May cycle over the weekend.