Short 29Aug11600CE 193 (50pts OTM)
Short 29Aug11500PE 136 (70 OTM)
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Total 329
Expectation: Time decay of 5 to 10 points everyday, with safety from 400 points swing on either side. Fairly safe, until proven otherwise.
Of course, the second week to expiry is ideal, but lets just see how much this pair gives in a week.
18July11550CE @60
Expecting it to expire worthless, since trend is down. Hence gaining entire 113 points collected from the spread.