Status report on SPX weekly credit spread for January 1 cycle.

SPX closed Friday at 1841.30, about even with the previous day. Below is the January 1 weekly credit spread as of the close:

SPX January 1 Credit Spread shortly after entry

The position is currently +$30.03, or 3.2% of the total margin/risk. Our “Good to Cancel” order remains in place to close the position for a debit of .15, which would represent a gain of $60 before commissions. With the shortened upcoming trading week, however, I would not hesitate to close the position for .20 if the opportunity presents itself.

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,

Dot Hazlin