The S&P500 traded near the flatline this morning but after the first hour, it dipped into the red and stayed there for the rest of the trading day. Fears of last Friday's pullback crept into the minds of investors and took the index down to a loss of about 50 points at its lowest level on the day. We saw this downward pressure and opened a bear call spread, forecasting continued pressure or a muted recovery. The index did climb back into the close but remained in negative territory on the day. It settled with a 5 point loss at 7403 and stayed well below our short strike of 7430. Our position expired for a gain of 3.1%! Not bad for a trade that was held for only 2.5 hours! Enjoy the rest of your week!