Yesterday was a bit ugly. This morning, the S&P 500 has opened up. What does this mean for our credit spread trade?
Nothing.
We're still well positioned with about 50 points between the market and our short strike. I did consider opening a call spread yesterday, concerned that further downside might eventually force an adjustment. If that happens, it would be nice to have some additional credit to work with. I will take another look at the call option chain later today.
Trade well!
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