May 14, 2013


SPDR (SPY)


Bias: Bearish
Price Target: $158

We are bearish short term on SPY and want to purchase a put vertical to take advantage of the possible move lower.
We are looking for this move lower to occur by the week after memorial weekend.

BUY To OPEN 4 Jun-7 SPY 163 Puts trading at $1.20
SELL To OPEN 4 Jun-7 SPY 158 Puts trading at $0.40


SPY is now trading at $164.99
This spread is now trading at $0.80
The total debit of this trade is $3.20

Do not pay over $0.90 per spread.


Day Order only

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