*****UPDATE***** 5/14 AFTER CLOSE

THE TRADE GOT OH SOOOOO CLOSE TO EXECUTING IN THE OPENING HOUR TODAY, BUT PREMIUMS EVAPORATED & QUICKLY DROPPED DOWN TO THE PREVIOUS UPDATED .68 LEVEL AND NEVER LOOKED BACK.

THIS WAS A POT SHOT AT GETTING A FAVORABLE EXECUTION, NEVER CHASED.

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*****UPDATE***** 10:51AM

AS SOON AS I PLACED THE TRADE ORDER AROUND 10AM, THE PREMIUM EVAPORATED QUICKLY, AND SITS AT .68CREDIT NOW.

I WILL LEAVE THIS OPEN TODAY, BUT MOST LIKELY WILL CANCEL THIS ORDER AFTER CLOSE TODAY.

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Taking advantage of the rise in IV volatility pricing premiums. This looks to be great play, with a further dip it will trigger.

Happy Trading

Creditspread23

Order Details

You have entered a spread.
Leg Action Contracts Option Description Price Duration
Leg 1 Buy to Open 5 SPX Put SPX May 19 2012 1300.00 Put Credit 1.25 Day Order
Leg 2 Sell to Open 5 SPX Put SPX May 19 2012 1305.00 Put Credit 1.25 Day Order
Quote SPX   1,338.26   -15.13 Bid 1,337.86 Ask 1,338.62 Volume 0
SPX MAY 19 2012 1300.00 PUT
SPX MAY 19 2012 1305.00 PUT
Bid 3.20 3.90
Ask 3.50 5.00
Last 3.40 4.09
Change 1.30 [61.90%] 1.34 [48.73%]
Volume 3,124 50
Delta -0.14 -0.17
Open Int 80,285 6,761
Desc SPX May 19 2012 1300.00 Put SPX May 19 2012 1305.00 Put
Net Quote
Bid (natural)
0.40credit
Mid
1.10credit
Ask
1.80credit

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