Close: SPX Speed Trade at Profit Target (in one day!)

Trade Rationale: 29 Oct (Close)

Profit Target was surpassed. Better close the trade and capture profits...

Final position:

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Trade Rationale: 28 Oct (Open)

I was checking for another trade opportunity after closing both Ride Trades and found this opportunity. The front-month has a higher IV than Back-month. But, there is one big difference between this trade and the traditional Speed Trade. As you can check there is only 3 days difference between both front and back month in this Calendar spread. This type of Calendar has less Vega and there is also reduced risk. The Calendar only costs 3.20 (usually it should cost around 12-16 when entered with at least 10 DTE difference between expirations). Let's see how it goes.

Position status:

Profit target:

Let's assume a PT of $160 or 10%.

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