Wednesday, September 12, 2012

Closure of SPY Bull Call Diagonal Spread

After the entry on 7-18, the long call has its delta increased to 0.85 area in about 7 weeks. My past experiences suggested that this is a time (within a couple of weeks) for a potential pull-back. So I closed this position to take the profit.

I plan to have another bull call diagonal spread later in November/December when the market seasonality favors bulls and if market is in an uptrend.

Created with ProphetCharts®

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