SPY 410/405 March 4th - Put Credit Spread

Updated
Trade Credit: $0.56 = 11.2% Return on Margin
Max Loss = 500 - 56 = $444
Strikes - Short 410 / Long 405

Reasoning:
1. Large friday afternoon drop, which I believe is somewhat expected due to the good week we have been having.
2. White lines indicate the current trading range A.K.A Support and Resistance
3. Yellow Dotted line = Recently low and becomes a MUST for me to be below in order to take this trade.

410/405 Pays >10% return on margin and is below the recent low, so I took the trade.

Usual management is 50% take profit or -200% Stop loss. Given that I entered this on a downward move, I went half size and may add additional positions later if the RoM (return on Margin stands).

Questions? Comments? Leave em below!
Note
This trade was exited today for 0.29 per contract, a little above below the 50% profit threshold, but I wanted to take advantage of the pop from the fed minutes.

Closed for 48% profit, or 4.8% return on capital risked in just 5 days. Rinse and repeat!
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