Just adding a little long delta to my core SPY position, with the short put at the 30 delta strike.
Metrics:
Probability of Profit: 69% Max Profit: 52/contract Max Loss/Buying Power Effect: 248/contract Theta: .19 Delta: 6.26
Notes: I'm adding in a touch of long delta to my core June SPY position. However, the metrics would be okay as a standalone trade if you were neutral to bullish SPY above 228.