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Rallies can be quite violent, and this one is unstoppable. I hoped for a pullback today but it is not happening. Our call spread with today's expiration date is now in the money, and there is no point in preparing it. So we will close it.
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We will also open another "box trade" to offset the cost of closing the spread.
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Here is the closing trade:
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Buy to close 1 SPX Jul29 4080 call
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Sell to close 1 SPX Jul29 4090 call
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We will open a new box trade to offset the cost:
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Sell to open 1 SPX Sep09 4180 put
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Buy to open 1 SPX Sep09 4170 put
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Sell to open 1 SPX Sep09 4170 call
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Buy to open 1 SPX Sep09 4180 call
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I am also testing using Twitter to send trade alerts. If you are interested, you can follow this handle to get trade alerts notifications on Twitter: @TradingZz
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If your handle is different from your subscription, you must let me know that you applied for the Twitter Alerts otherwise I will not be able to recognize you and won't admit you to the Twitter group.
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We are also placing a GTC (good till canceled) buyback order for 75% of the credit.
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