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Quant Trader
Expert-Level Options for Sophisticated Traders

June 13, 2022

Bear Call Spread: SPY July 15, 2022 440/445 calls
Original trade published on 6-2-2022 (click to see original alert)

I want to close out our SPY July 15, 2022 440/445 bear call spread today for $0.05. By closing out the trade we can lock in 14.94%.

With our bear call spread trading for $0.05 it just doesn’t make sense (it rarely does) to hold a trade through expiration. Why would we hold on to a trade with 32 days left until expiration and the associated risk when we could simply take off the trade and move on to the next opportunity when it presents itself?

Here is the trade:


Buy to close SPY July 15, 2022 440 call strike
Sell to close SPY July 15, 2022 445 call strike for a total of $0.05 (As always, the price of spread will vary, please adjust accordingly.)

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