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Yesterday I posted a S&P 500 Short put trade to sell the SSO October 45 Puts. With the move today I think it would be best to hedge the Puts by selling the October 64 Calls. The target price is $1.00 per contract.

As the chart below shows, there is resistance at $64.80 and a gap to be filled at $65. So there is some puside risk to this trade. But I predict a selloff early next week which will allow us to cover the calls. Cover the puts at the $0.20 mid price if you can.

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