Opening (Small Account): SPY October 15th 426/431 SPV*

... for a .52/contract credit.

Comments: Although implied isn't ideal here (>20 is better), throwing some caution to the wind and selling a five wide at the strikes paying at least 10% of the width of the spread in credit. This ends up with me selling the 21 delta and buying the 18, which is a little bit more aggressive than I usually like to go, but selling the 16 and buying the 13 isn't only paying .40, so taking a smidge of more risk here.

Generally, will look to take profit at 50% max.

* -- Short put vertical.
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