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Creditrecieved

SPY 410/405 March 4th - Put Credit SpreadTrade Credit: $0.56 = 11.2% Return on Margin Max Loss = 500 - 56 = $444 Strikes - Short 410 / Long 405 Reasoning: 1. Large friday afternoon drop, which I believe is somewhat expected due to the good week we have been having. 2. White lines indicate the current trading range A.K.A Support and Resistance 3. Yellow Dotted line = Recently low and becomes a MUST for me to be below in order to take this trade. 410/405 Pays >10% return on margin and is below the recent low, so I took the trade. Usual management is 50% take profit or -200% Stop loss. Given that I entered this on a downward move, I went half size and may add additional positions later if the RoM (return on Margin stands). Questions? Comments? Leave em below!
AMEX:SPYLong
by ThetaTrades
Updated
66

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