With the volatility in a lower range, I like the possibilities of an SPX weekly calendar today. I am looking at the trade below:
Sell 1 SPX May 19 2390 put
Buy 1 SPX Jun 2 2390 put
Debit for spread is approx. $7.25 with SPX trading at 2390
Total cost per spread at this level would be $725 plus commissions. Looking to close trade at a 10% gain or 10% loss.
If you get filled at $7.25 immediately place good to cancel order to sell at a profit at $8.05. Close trade at a loss if you are down $80 on the spread.