#Futures – Adding a new position using fibwizard’s call strike from his SPX trade earlier. Going a roundabout way to make it a no risk to the downside trade…while setting up a nice short entry if we rally big.
SOLD /ESM7 (June) @ 2366.50
SOLD /ESM7 APR 17 (Wk3) 2425 PUT @ 66.25
1. Position makes 7.75 on anything below 2425
2. I’ll go short /ES at a basis of 2432.75 on anything above 2425
3. Anything in the gray area between 2432.75 and 2425 is profitable with closer to 2425 being better
This is an experiment….looking at it now with all the numbers in front of me a better play would’ve maybe been to sell a slightly lower put to capture more possible gains while getting a short basis closer to 2425.