Trade Update – About the SPY 108/111

Per the SPY Sep 108/111 bear call spread, try to hold on until the SPY hits 107.3.     After this point you should close it out.   Options on the SPY will trade through Friday, so our goal is to continue to hold it until we are forced to close it out.  Remember, when we are down to the last few days before expiration, time decay is rapidly eating away the value of the spread so the longer we can hold on, i.e. without letting it go ITM, the cheaper it will be to close it out if we need to close it out early.