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Our trade we opened on December 31 (see below) is in the money and there is no chance for the market to recover by the end of today. So we decided to roll the trade a few days ahead.
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ORIGINAL TRADE - DO NOT OPEN
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We open this type of trade every Friday and hedge these trades with our debit spreads that we open every month. Therefore, we are opening our Friday's trade this morning:
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Sell SPX 10 dollar wide put spread
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Place a GTC closing order for 75% profit
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Sold 1 SPX 02/28/22 Put 4355.00 @ 33.52 Bought 1 SPX 02/28/22 Put 4345.00 @ 32.67
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The trade was executed for 0.85 credit.
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We are also placing a GTC (good till canceled) buyback order for 75% of the credit.
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