covering short $SPY 116 weekly puts at .35-.40 from 1.10 and selling then shorting $SPY 117 weekly puts at .55 area same contract amount as the long on $SPY 118 weekly puts

/b covering short $SPY 116 weekly puts at .35-.40 from 1.10 and selling then shorting $SPY 117 weekly puts at .55 area same contract amount as the long on $SPY 118 weekly puts. Ok yesterday during the fall at day lows we shorted SPY 116 puts and now the theta has us at nice profits but with this pul back want to have more protection so am selling then shorting 117 weekly SPY puts to replace 116 as the 118 puts debit spread now trough 117 instead of 116.

Posted in General Trading