TRADE UPDATE: Unwinding the SPY March 2013 125/100 1by2 put spread for 55% gain

TRADE UPDATE: Unwinding the SPY March 2013 125/100 1by2 put spread for 55% gain


As our market indicators showed early last week that we could see a 100 point rally and it actually moved 100 points, we are using this rally to unwind our protection trade.  This is not because we are bullish, however we feel the market will end up going lower just as fast, if not faster.  That will give us a better chance to sell skew and re-enter this trade.