Recommended closing for SPX March 2 weekly credit spread.

This week's current position as of the close yesterday is shown below:

SPX March 2 Credit Spread :

As of the close yesterday, this position is slightly in the negative (-4.94), and the short put strike is still 28 points away. However, as of this writing, futures are down by 4 points. The Ukraine tension, as well as China economic woes, is weighing on the market this week, and SPX has been drifting down slightly each day.

SPX 6 Month Chart :

It is recommended to close this position before the end of the day today. The economic calendar is light for today and the bulls could wake up, but it is not worth the risk to me. Some traders may choose to take the open trade until Thursday; however, I do not like to exit later than Wednesday. With only 2 days left a further move against the position can be impossible to recover from.

I will post trade closing details later today or this evening.

The next trade entry will either be Thursday or Friday, depending on market conditions.

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

Dot Hazlin