$430 guaranteed. A $930 lottery ticket still on the table when the bell rang.
Ahoy there, Trader! ⚓️
It’s Phil…
Not a bad way to close out a Thursday.
Here is what happened between the opening gong and the closing bell today, and the butterfly move that turned two Premium Popper credit spreads into a trade with no L, only P.
The Day: Just Another Popper Morning
The day starts just like any other day.
The opening gong. The opening range. And from there onwards, it is a simple case of waiting for my Premium Popper software to mark the setups and score them.
That is the drill. That is the whole edge. The software does the scoring, I take the trades it flags.
Trade 1: The Flip From Bull To Bear On The ORB20
The first trade on the dance card was a curious one.
Price flipped from an attempted bullish 1st breakout on the ORB20, into a flop over the VWAP. Once that VWAP flop registered, the move effectively went lower swiftly.
I was able to lock in profits just as quick.
Clean read. Clean trade. Bell one rung.
Trade 2: The Late Entry That Still Delivered
My second trade was also bearish.
The 3rd BO setup fired on the same push lower. I took the entry slightly later than normal, around an hour after the software flagged it up, because I was noodling around and not near the desk at the time.
Not ideal. But this also moved nicely, and I was able to lock in profits here as well.
Two bearish credit spreads on the book. Both green. Normal management from here would be simple: close them out, cash the credits, move on.
But that is not what I did.
The Twist: Legging The Credit Spread Into A Butterfly
Over on the options curve, we can see something a little different to how I normally manage these trades.
Instead of closing out and cashing out, I am legging the credit spread into a butterfly.
Now what this does is lift the P&L profile so that there is no L and only P.
Locks in a guaranteed profit, and gives me a wild card of landing the bullseye on the pin.
Which is very nearly what happened today. Price just rallied a little right at the final bell.
The Math: $430 Guaranteed. $930 On The Pin.
Here is what the position looks like at the close:
- Guaranteed floor: $430. That is locked in. Cannot lose from here.
- Bullseye pin: $930. That is what pays if price settles on the strike.
- Contracts used: 1 per butterfly, 2 butterflies on SPX.
One contract. Two trades. Zero downside left.
Very fucking awesome.
The Closing Bell Confirmed It
I already had the closing bell recorded when the profits were officially confirmed. Watch the video below to see the moment it landed.
That is what a Popper morning looks like when the software does the reading, and the trader does the managing.
Want To Collect Morning Income Like This?
Check out the Premium Popper system.
It is the same software that flagged both trades today. The same scoring, the same setups, the same edge.
The butterfly leg is a management technique you can layer on top once the credit is in. But it all starts with the setup being right in the first place.
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Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece
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