Despite our P(e)OTUS (Pedophile Of The United States) meddling with the world tariffs (and fortunately, the world leaders are already ignoring him), the markets rallied on hopes, wishes, and expectations (dangerous combination) about the FED succession and tech earnings. This zigzag move helped out trades and both, the put spread and call spread expired worthless for a full profit.
ORIGINAL TRADE – FOR REFERENCE
I placed an order to open a new credit call spread, but I asked for a minimum of 0.35 credit to be willing to take the risk of a potential melt up. The order was hanging in the broker’s system for two days until today morning when the market suddenly jumped up and the order filled for 0.65 credit. Then, thanks to our economic imbecile, and his idiotic tariffs, the markets retreated significantly making this an excellent trade. We opened the trade when the market was high and it then retreated to the point of making the trade worhtless. Here is the trade:
Order Summary
Sell to Open 1 SPX 08/08/2025 Call 6445
Buy to Open 1 SPX 08/08/2025 Call 6455
Limit GTC @ 0.35 Credit
The trade executed for 0.65 credit:
This trade is now made a part of the previous put spread, effectively converting the trade into an Iron Condor.
TRADE STATUS – CLOSED WINNER
Challenge Account (2025)
Net-Liq: $4,336.75
P/L YTD: $1,510.13
Credit/Debit Total: $87.42
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