With the market in free-fall, we have no interest in risking the profit we have in hope of a rebound. We’re closing the remainder of our August positions, beginning with the 122 call calendar:
Day limit order
Buy to close 4 SPY Aug 122 calls
Sell to close 4 SPY Sep 122 calls
for a net credit of $1.13 or better.
Note that 4 contracts represent our entire position in the Aug/Sep 122 call calendar.