Last trade today before the Fed meeting at 2:00 PM. Let’s close our SPY single calendar spread for a profit. We entered this trade as a single calendar expecting to add another leg depending on how the market moved. The SPY moved higher but stayed in range so we now can collect about a $3.40 credit or $340 per contract … roughly $1,022 of net profit.

TRADE CLOSE: Single Calendar Spread

SPDR S&P 500 ETF (SPY):  382.95

TRADE ACTION:  CLOSE the SPY 4 Nov 385 call / 16 Dec 385 call for a net credit of around 9.00

BTC the SPY 4 Nov 385 call

STC the SPY 16 Dec 385 call

The Master Portfolio is trading 3 contracts.