Stock / Symbol: [private_monthly]S&P 500 INDEX / SPX
Price at trade entry: $1273.15[/private_monthly]
Option Strategy: bull put spread
Reasoning: With the market breaking a major technical support level at 1250 yesterday and then the 1227 support level today, we're going to close out this trade now to avoid further loss.
Trade Details:[private_monthly]
BTC -2 SPX AugWk1 1220 Puts
STC 2 SPX AugWk1 1215 Puts
for a net debit of $2.50 per contract (day order, limit order)
Max Risk: $940
Max Reward: $60 or 6.38% by Aug 5th
Profit Range: $1219.70 +
Profit / Loss upon fill: ($440)
[/private_monthly]
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