The SPX Credit Spread is still an open trade, despite the limit closing order having been in place since yesterday. I did not think it would fill, but it does not hurt to have the order in place.
Today, the mid-price is about .15 and the market is not doing a whole lot. Theta will continue to erode this trade and there is a chance we could get filled toward day's end as traders begin looking at what prices will be on Monday, after the weekend. If not, I expect that we'll be able to close it out next week.
Once this trade is closed, it allows us to re-direct our capital to the March contracts. There is plenty of time between now and then, which means that we can bide our time and look for the right trade entry.
Mind your risk, folks!
Christopher Smith
TheOptionClub.com
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