Short the 197.5 Strike for Feb 12 and Long the same strike Feb 18 Calls
A 3% volatility increase would put my breakeven at 185~
5%+ as low as 180.
Debit of .39 | Current Mark @ .47
Limit order: .84 GTD 2/5
Expecting a possible retreat to the .382 level, possibly even the .5 level, then a bounce back up.
I am kind of hoping for this as I'm also short a SPY call at 487 with a couple weeks left and would prefer not to roll. This spread gives me upside protection and will break even if the MAG7 decide to drop.
A 3% volatility increase would put my breakeven at 185~
5%+ as low as 180.
Debit of .39 | Current Mark @ .47
Limit order: .84 GTD 2/5
Expecting a possible retreat to the .382 level, possibly even the .5 level, then a bounce back up.
I am kind of hoping for this as I'm also short a SPY call at 487 with a couple weeks left and would prefer not to roll. This spread gives me upside protection and will break even if the MAG7 decide to drop.
Comment:
Greeks as of Friday Close -6 Delta 3.1 Theta Vega 3.6 Gamma -0.29
Comment:
Perfect Follow through today, creating a cup with handle pattern.