claypuzzle

SMH Bull put spread - closed out as day trade for small profit

Long
NASDAQ:SMH   VanEck Semiconductor ETF
SMH Bull put spread

Sold the 230-227.5 bull put spread for .42 which was 20% ROI and 3 DTE , and then the market quickly traded to .56 and .62 as the 236 zone dind't have any buyers.
So the lack of any buying activity made me lose confidence in the trade.
I bought the spread back for 0.38 for a 0.04 profit about 5 hours later and took it as a day trade.
I'll look to sell lower at the 220 strike if it tests down to 230 which I think is likely
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