The credit would have been $1.16 / contract. I could have sold about 8 contracts to stay around the ~$10,000 margin requirements...so that I was comparing apples to apples. The margin requirements for a strangle are different than a spread. 8 contracts at $1.16 would have only netted me $928 in my account and I would actually have more downside, since I was exposed on the CALL, whereas the PUT credit spread didn't have that upside exposure.
So, as it is, the PUT credit spread offered me the better trade. I could have tightened the spread or the strangle more...but I am uncertain what RIMM will really do over the next month and I didn't want to gamble too much...I feel pretty safe with either trade at the strikes I set.
Rimm is still at the mercy of the tech companies all it takes is for google or apple to come out and say something negative and Rimm can be affected real fast. I used to like rimm but i didn't like the swings it had and if you follow them they are losing customers to the competition. But good luck with it. I am still hoping Ford goes up and so far ithas gone down.
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