Update 3/6/

If we get weakness as expected Thursday and get a chance to close this spread early for a nice profit, I will.

I say this because, I am also looking for a rebound Friday like usual lately. Once we get a rebound Friday, I will either reopen this spread again for more credit, or move to higher strikes.

Think of this as a close out, lock gains, and reset, type of roll.

If we get further weakness follow through on Friday; no worries, and can always open up a new weekly later.


Bought to open 12 $SPX Mar16 1560 calls

Sold to open 12 $SPX Mar16 1555 calls

Total limit credit of $1.15

Trade details later tonight.


Trade Details

03/05/13 Sold to Open -12 SPX Mar 16 2013 1555.00 Call $3.05 $3,657.75
03/05/13 Bought to Open 12 SPX Mar 16 2013 1560.00 Call $1.90 -$2,291.20