Prepare for sideways and 10% down in next 3 months
Short 438 Stop 444 Target 400
Risk management is much more important than a good entry point. The max Risk of each plan should be less than 1% of an account. I am not a PRO trader. I trade option to test my trading plan with small cost.
Trade active
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Buy Dec Put butterfly P300/350/400 Limit 3.30 Sell Dec Call spread C440/446 Limit (Credit) 3.52 No stop Theta: 0.00 Delta: -0.14 Max RRR 50:6 = 8:1
If SPY stays between 400 and 440, no gain, no loss;
Trade closed manually
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Sell to Close P300/350/400 Limit 3.06 Buy to Close C440/446 Limit 3.15 Overall, make even.