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Trade Closed for a Winner
As they used to say in Vegas "Winner, Winner, Chicken Dinner"! As expected, we were able to close our trade yesterday for $2.85. Our profit per spread was $145 or 7% return in one week. Not bad, considering we are now back in cash and at no risk to the current market swings and increased volatility. This is much better in my opinion than trying to get a few extra percentage points but with increased market exposure for 3 or more weeks in the trade.
Now this does not mean we are not looking for other trades, it just means we have the flexibility to do what we want as the market shows it's hand a bit more.