SPY 14 May 375/350 BULL PUT SPREAD
The markets moved higher today and the price action is very bullish but CANNOT continue at this pace. Our position with the SPY Credit Spread is 42% in the profit. Still 8% to go and we might hit it tomorrow.
The Rule for Exit:
- Close it when it reaches 50% of Max Profit plus all fees.
- Close after 21 days if it has a profit.
- If it is a loser wait until DELTA => 30%
- If it is a loser wait until it is a winner