Today’s Data was a bit mixed. Deltas were looking for upside. However Net Drift was showing a bit of short term weakness. I opened a starter position at 6610/6615 Call Credit Spreads for $0.85. I plan to play around this. If price continues Higher, Ill look to add in puts.
Price climbed Up, I repositioned Further From MVC Current Positive MVC changed to 6605. I closed my 6610/6615 Calls for $135 Loss. Then Opened another 4 Call Credit Spread for $0.80.
It is 11:19 AM PST . Price finally pulled back and dropped past VWAP on SPX. I plan to let these expire worthless if price does not go back past VWAP.