Closed the upper legs for 83c (I paid 55c if I break the trade shown below) for 51% profit
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I want to play a possible sharp decline in the markets in the coming weeks and I thought SDS might be a good bet to get in as a hedge as I continue to play any weeklies to the upside (if I plan to).
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| SPX weekly chart |
Trade:
Sell 1X $53 Dec puts
Buy 1X $51 Dec puts
Sell 1X $57 Dec calls
Buy 1X $55 Dec calls
(Got a total credit of 45c; $1 for credit of puts, 55c debit for calls)
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