NaughtyPines

Opening (IRA): SPX May 20th 4100/2 x 4200/4250 BWB*

SP:SPX   S&P 500 Index
... for a 4.50 credit.

Comments: Been waiting for a little bit more weakness before doing another one of these. (See Post Below). Selling the 20's, buying the long call 50 strikes out, buying the put 100 strikes out.

* Broken Wing Butterfly.
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