XLE Put Credit Spread

I placed the put spread in XLE as I mentioned earlier. Seeing as the S&P 500 opened higher and XLE also opened higher (pre-market trading made this easy to notice) I went with the lower credit spread of 25 cents or better.

Sell to open 4 Jan 52 strike puts, XLE MZ
Buy to open 4 Jan 49 strike puts, XBT MW

They opened today giving me about 26 cents...but I haven't seen any trades executed so I am not sure what is up. I think that my order didn't get placed immediately so may be stuck in line somewhere. 26 cents seems to be holding so I should see a fill.

There we go, 0943h sold for 50 cents and bought for 22 cents for a 28 cent credit. The worst is it looks like I could have held out for 30 cents and got that also...not to get greedy though.

Aim for the targets.

Daily return is $2.85 for an total 8.5% ROR.

So far my average daily return is $3.27, higher than my $2.40 target but that first tight trade is at $4.06 which skews the result due to the small sample so far.

3 active trades, two expiring Dec 30 and one Jan 15. I'll be watching for a fourth and lining up two replacements in the new year to keep things rolling along.

Jeff.