Market going sideways
I sold a S122/S123 spread today with 14-Oct SPY calls this morning for a credit of 0.20. SPY was trading around $118.65 at the time. $122 is about at the top of the trading range we’ve been in since August. The put spread that was equidistant from market price, the S115/S114, was offering a significantly lower credit—0.14. This is not surprising because of the typical …