Seeking Alpha
  • Ricardo Espinosa
    STO 10 May SPY 130/140 call spreads and BTO 10 140/130 SPY put spreads for 4.19 credit, SPY needs to follow Europe down real soon.
    4/19/12
    Reply (3)
    • ponnuswamyp: Your Max Profit will be 4.19+10.0 when SPY < 130. Max Loss will be 5.81 when SPY > 140. If SPY is between 130 & 140 4.19 is profit. Right?
      4/20/12
    • Ricardo Espinosa: Right on the first 2, but if SPY is between 130 and 140, it goes from 14.19 profit on 130, breakeven around 134.19 and higher=losses
      5/1/12
    • Ricardo Espinosa: It´s a hedge against all my long positions, I hope it loses money, TEF, SAN, DE and MCP doing great this week.
      5/1/12