With the SPX hovering near break even today there is little to discern. Yesterday's advance was again on unconvincing volume.
A bullish spread is not being sold right now, but may be entertained if we see the market trade lower. The bear call spread has lost a significant amount of value in both options, a reflection of both theta and falling implied volatility. It is not ready to be closed, and probably will not be ready for a few weeks.
Good trading!
Christopher Smith
TheOptionClub.com
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