SPX Bearish Butterfly Paper Money) for May 1; Order Filled.

May 1 "Test Kitchen" SPX Bearish Butterfly order filled.

Order executed for this new position:

- BOUGHT 3 SPX May 1 1915 Put, 73.40 debit..

- SOLD 6 SPX May 1 1875 Put, 58.10 credit.

- BOUGHT 3 SPX May 1 1825 Put, 43.40 debit.

Order was filled as a "Butterfly" for $.60 net debit(all three legs) per butterfly.

Margin/Risk is calculated at $1,000 per unit, plus the cost of the butterfly,

Margin/Risk for this trade: $3,180.

Target Gain: $500 for the 3-unit position

Max loss: $750 for the 3-unit position

As stated in the guidelines published February 17, the target gain and max loss may be modified depending on length of time in the trade, etc. Since this is a new trade being incorporated into the plan, we will evaluate progress as time goes on. Below is the risk graph of this position as shown on my broker's platform:

SPX May 1 Bearish Butterfly:

Trade updates will be posted as appropriate.

As always, stay keen on your risk management and trade carefully,

Dot Hazlin