I have placed my first Dec 09 trade. I feel the SPY has been showing a lot of resistance at the 111 -112 range. I feel this will hold and people will take some profits next week. I think SPY will fall to the 106 level where we will see it bounce. If SPY closes above 113 then I will exit this trade and re-evaluate. If SPY does fall to around 106 and starts to show signs of support then I will take profits on this trade and look at entering a new position there.
DEC 09 115/114 Bear Call Spread for a ROI of 24%

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