Opening a vertical bear call spread on SPY

Yesterday, January 3, 2024, I opened a vertical bear call spread on SPY, the ETF that tracks the S&P 500 index.

I bought a call with a strike price of $496 and sold a call with a strike price of $501, both with an expiration date of February 16, 2023.

I am predicting that the stock market will move:

Downward
Sideways
With a slight upward movement that exceeds $496 after February 16, 2024 If these predictions are correct, my position will gain value and I will be able to keep the premium I received. **Conclusion** Opening a vertical bear call spread is a strategy that can be used to speculate on a sideways-downward-slight upward movement of the stock market. In the coming days, depending on the performance of the position, we will evaluate when to insert a stop loss equal to three times the premium received.

Comment:

Errata corridge Sold 496$ and Bought 501$