fibwizard 12:26 pm on Thursday, March 1, 2018
Tags: SPX ( 105 )

SPX

STC 2 April 06 2600 Long side puts at the low earlier, for 44.50, bought as a BUPS on Feb 27, at 14.40..
gain 158%

Jeff 12:32 pm on Thursday, March 1, 2018

So on your Feb 27th post you said “STC Apr 6th 2600/2700 BuPS” for 12.50 credit. But you sell to OPEN a BuPS and Buy to close it. So I can’t figure out this trade, can you explain?
fibwizard 12:37 pm on Thursday, March 1, 2018

feb 27th I sold the spread, so if I posted the STC, I made a typo…The short 2700 stopped out at -500…I held the Long 2600 till today..My apology for the incorrect typing… and your correct, sell for a credit, buy for a debit..I need to proofread better..
- Jeff 12:43 pm on Thursday, March 1, 2018
  
  No worries. So you sold the spread for 12.50, then covered the 2700 for 17.50?… and then today you sold the 2600 for 44.50? So total profit, 39.50?
  - fibwizard 1:19 pm on Thursday, March 1, 2018
    
    I sold the short side for 26.90
    I bought the long for 14.40
    credit was 12.50
    
    my short stopped out at a 29.50, a loss of 2.60
    I sold the Long for 44.50 , a gain of 30.10
    total profit = 27.50
    - Jeff 2:53 pm on Thursday, March 1, 2018
      
      Great work! I don’t usually have the nerve to split up spreads like that.

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