1 Day Butterfly Trade in SPX

Just Bought the Mar 22 expiration 2340-2350-2360 Call Butterfly in SPX for $4.50 Debit at 10:24 am central. This trade expires at the end of day today. Market seems quiet so far after big down move yesterday.

SPX

Between 2345 and 2355 I do really well. As SPX moves above 2355 or below 2345 we would start to lose money and I would look to get out . The goal is to sell out the trade that I paid $4.50 for $5 credit, could be within an hour, and the profit would be about 10%.

If the spread that I paid $4.50 debit goes near $3.75, would get out. Total cost and Risk of trade is $450, the debit.

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