Easy Pickings And The Double Tent That Nearly Was

The Premium Popper fired a bearish signal at the 1st opening range breakout, and again at the 3rd. Two standard bearish credit spread entries, both worked on with the Butterfly Leg technique. Then a fast move lower did most of the work.

I looked at the market twice all day. Once for the setup, once in the last 10 to 15 minutes. Easy pickings.

The Popper Morning (Again)

Standard Premium Popper morning. Watch for the signal, put the trade on, get on with the day.

Today the Popper fired BEAR with a PLUS grade signal at the 1st opening range breakout. Full Stack, ~89% win rate, Lazy Score 6 out of 6, BREAKOUT session at the 250-day marker.

That is a double signal day on the Popper. Two bites at the cherry.

Two Bear Credit Spreads

Standard opening range break 1 and 3 for the chart entries. As usual, bearish credit spreads to initiate. Two separate positions, opened off the two separate signals.

For anyone new to the format: a bear call credit spread is a defined-risk bearish position. Sell a call closer to price, buy a further-out call for protection, pocket the credit. As long as SPX stays below your short strike into expiry, you keep the credit.

Two credit spreads on. Now to see if the Butterfly Leg could stack on top.

The Bear Butterfly Leg (Twice)

Same technique as yesterday, this time on the bear side.

As price moved lower and time decay set in on both trades, each bear call credit spread could be converted into a butterfly by adding a second bear call credit spread one strike below the first. Each combined position becomes a call butterfly with wings 5 points apart.

Two butterflies. Two profit tents. That was the plan.

Trade one got managed cleanly. The floor locked in, tent centred near the day’s lows.

Trade two — I took my eye off the ball a little. The second trade did not get the same attention, and the leg did not get added quite as cleanly. Still delivered a floor, but not the full double-tent potential.

Nearly had the double profit tent with a little more locked in. Nearly.

The Math

• $115 locked in as the guaranteed floor across both positions
• $615 potential if the lows of the day had held into the close
• Two setups from the 1st BO and 3rd BO Popper signals
• A double profit tent that was in reach if trade two had been managed as cleanly as trade one

The floor holds. The full tent got away because I stopped watching.

Such is the way of things.

Easy Pickings, Barely Watched

Here is the punchline of the day.

I did not actually look at the markets beyond the initial setup and the last 10 to 15 minutes of the day.

Fast move lower. Easy pickings.

The system did the work. I did the tinkering-around-the-house.

The Community Grabbed A Bag

While I was not watching, the Premium Popper community was on it.

Bill kicked it off with “PP on the SPX looking good”. Don won both the SPX and RUT Bear BO at 50% each. Mary bagged the SPX win. reddya23 booked 50% on the 1st BO. Bill then rolled into the Lazy Popper mid-afternoon and closed that at 25% for two wins on the day.

“Bam — full bag for everyone” was about right.

Want To Collect Morning Income Like This?

If you want to collect morning income like this, from a market you barely watch, check out the Premium Popper system. Same signal that fired twice on 7 July. Same trade management that locked in $115 across two bear positions with a shot at $615 if the pin had landed.