Today, the Dow and S&P500 both closed at record highs of 48,704 and 6901, respectively. Our traders opened a position in the morning when the market internals were weak. The markets appeared as if they would stay under pressure but as the session wore on, it began to turn around. Despite the move higher from when we opened the bear call spread, we had enough cushion to avoid any danger. It did get close as the index got within 10 points of our short strike (6910) in the final 90 minutes. We were closely monitoring the situation and our technical indicators were signaling a muted close. The final 90 minutes resulted in only a 3 point gain on the index, keeping it safely away from our short strike.



The result was another gain of 3.1%! For now, have a wonderful weekend!