Closed SPX Calls

Didn't really get a quick run up as I was hoping. With less than two weeks left on the options I decided to close them out for break even. Account is still at $109,576. I will probably be looking to take a quick PUT position soon as the market might sell off here.

Modified SPX trade

I decided to close out all of the SPX trade except for 125 contracts of the 1695 Calls. I feel there may be a little more upside left in this run and I can try and get back some of the losses. Buying back the SPX trade was a loss of $34,899 putting the account at $109,576. Hopefully we can get back most of the loss in the next couple days with some upside follow through.

New SPX trade opened

Opened a new SPX trade:

Sold 325 SPX Jul4 1690/1695 Bear Call spread for .85 credit

This trade has a potential profit of $27,625 on a risk of $134,875. This would be a 20.4% ROI with a little over two weeks left.

I feel the market is due for another pull back or at least will trade sideways here for the next week or so.

Closed SPX trade

I decided to close out the SPX trade for a $2,828 loss as the market is looking like it might try to re-test the 1650 level which would potentially put this position in a lot of danger. With only two weeks left I don't want to risk getting into a similar spot I was a couple months ago and end up with a huge loss. By the end of this week we should have a better idea where we are going. I will look to add a new position at that point.