Weekly Trading Advisory Fill Report: SPY Put Credit Spread Close

Check out my latest interviews at TraderInterviews.com & Benzinga:

www.BookingAlpha.com

AutoTrade Fill Report - Weekly Advisory:

Date:

09/15/2011

Trade:

SPY Put Credit Spread Close

AutoTrade Broker Fill Status:

eOption: Filled

TradeMonster: Partial Fill

OptionsXpress: Partial Fill

InvesTrade: Partial Fill

GlobalAutoTrade: Filled

TradeWallStreet: Filled

TradingBlock: Filled

TradeKing: Partial Fill

All Brokers executed at limit price of $0.01

My own transactions executed at $0.01

Trade Rationale:

This is a proactive trade to free up the potential margin in case an adjustment is required to the XEO Call Credit Spread side of the Iron Condor. A potential adjustment may require me to expand the XEO trade from 5 strikes wide to 10 strikes. This would be treated as an additional spread as it would not be able to use the 5 point wide put spread margin. Therefore, closing this SPY trade frees up the margin if needed. The XEO puts will be expiring profitably on 9/16 anyway so no need to worry about them.

This will leave us long the 102 puts that will expire worthless tomorrow. Trade profit is reduced by the $0.01 debit to close and commission expenses. Still a profitable little trade.

TradeMonster- Get $50.00 FREE for opening a new account.

Enter promo code: BookingAlpha during account opening process for your FREE $50 bucks!

BookingAlpha

{jcomments on}

Market News and Data brought to you by Benzinga APIs