SPY OCT Strangle was a late day trade, as we where trying to place a good risk to reward on the ECB and over the weekend news that may come out of Euro.
After review of this trade the call was placed just right and the put side was a poor choice. And here is why. As you can see the SPY 111.00 OCT P is 2 dollars away from being anywhere near the money. Sure you can get out for some money only if the calculated 1.50 dollar come into play.
SPY can sometime be a sweet trading tool, if you set it up too be.
Most of the Sunday night news does not make it into the Monday morning session.
