MrNeutral

SPY gap closing faster than I can write this

AMEX:SPY   SPDR S&P 500
104 1 5
I plan to sell a Bear Call Spread if the upward move closes the gap at around 207.80, then depending on the speed of the decent I will sell a Bull Put Spread if drops past 205. I will probably do a directional trade on the way down also but that depends on premiums at the time.
Comment: Didn't expect this fast of an up then down. I may still sell a Bull Put Spread if it goes down to 205.50 area to create my Iron Condor, but am nervous about a larger then expected drop. Good luck all.
I just sold my Bull Put Spread down at 1950-1920 (SPX). So I ended up with an Iron Condor for June 24th 2170-2140, 1950-1920. Now I am hoping for a slight rebound and then sideways.
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