Close Trade Alert: SPY December/January Double-Calendar (Adjusted)
Fri, Dec 16, 2011 | Jared Woodard
A morning rally has lifted SPY close to the peak of our P/L curve, and we can close this position now at about the best price we’re likely to get without spending the entire day watching and worrying over every move the market makes. With that in mind, we’re placing the following order:
Day limit order
Buy to close 2 SPY Dec 123 puts
Sell to close 2 SPY Jan 123 puts
for a net credit of $2.95 or better.
Note that 2 contracts represent all of our remaining position at 123. We’re now left with only the January iron condor that resulted from yesterday’s trade.
Tags: calendar spread, double-calendar, exit, spy
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