I decided to roll the the current SPX trade out another two weeks to the second week of June expiration. The market continues it's relentless rally and in order to keep from making the same mistake as last time I will adjust the trade now. Our new position looks like:
Sold 200 of SPX 1700/1705 Bear call spread
The adjustment added .60 credit for a total of $1.10 (.50 from original trade). This adds another two weeks of time to the trade making it a 5 week trade and puts the potential profit on the trade at $22,000 for a 22% ROI.
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