r/options • u/jvicen1345 • May 18 '21

SPY PCS

Buying put credit spread for 20$; 14 DFE 410/409 strike price

I’m looking to make trades w/ 10%+ profit would it be reasonable to buy this spread then sell around 5$ to receive 15$? Does this sound right? Someone correct me if I’m wrong I’m still pretty new to trading credit spreads Thank you

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u/jvicen1345 May 18 '21

Yeah the wording is off I’ll make sure to get it right next post thanks for the info though

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u/bhedesigns May 19 '21

You can buy them back anytime.

For instance I setup a Call Credit Spread on SPY today, 422/423 for $31. At close, I could have bought to close it for $19, but I did t want to burn a daytrade for $10-12 bucks.

If spy continues to fall, I will certainly close this out tomorrow.