SPDR S&P 500 (SPY)

[NickXIV]

Spread's at 180/182 on dow worked out well,
+$9 on each call, covered the cost of put's at 182 which I spent avg of 8.50, still holding 3.90 value,
Now have some clean downside protection for free in case of any return towards pre-election level.

Entering Jun. 16th 220 strike for the calls & Puts
8.85 for calls
10.62 for puts

Looking for either a straight move to 230 within the next month, and get more free puts, or looking for a retracement to 215 area, to take profits on puts and stack 2:1 bias on calls with july puts & Feb as well as june calls, and am hedged from the past free puts in case any further downside occurs.

Hoping to stack as many free long term puts as I can so I'm able to always be comfortably hedged starting 2017.

As well, each 100 level, and 1k level on dow breaks have followed usually with a avg. of 3.5% continuation through the level, which will put me pretty close to the 230 target, and usually follows afterwards with a retracement to the broken level, which will allow me to exit some of the puts as well if desirable, and then stack the calls back at 220ish, so we'll see.