- Oct 23, 2017
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I've been writing .20 delta Put Bear Spreads on SPY since the S&P dropped into the 2200's. It won't make me rich, but I just closed the first batch at 50% of it's potential profit after holding for only 10 days, up $50+ per spread on multiple spreads per expiration. I left a lot of cushion, so as long as the S&P didn't drop below 1800 I was going to make the profit.