Yesterday I put out a trade idea at the CBOE Blog. It was a Broken Wing Butterfly in SPX. I was using the October expiration. The trade was buying 1 1975 call and selling 1 1945 call. In the puts, buying 1 1905 and selling 1 1945. Total Credit was $2900. With sharp sell off today, I would buy 1 1915 put and sell 1 1905 put for a debit of around $3.90 or $4.00. This would balance out the butterfly and cut the risk of the trade from $1100 on the downside to around $500.
/wp-content/uploads/2015/04/logo_svg_full_name_white.png 0 0 Dan Sheridan /wp-content/uploads/2015/04/logo_svg_full_name_white.png Dan Sheridan2015-09-24 14:39:232016-01-20 16:35:52Followup to yesterday’s CBOE Blog