Time to manage our SPDR S&P 500 ETF (SPY) position. We can re-set the trade today by closing the current position for a small credit of around $25 per contract and carry that forward to the new re-set position.

TRADE RE-SET

SPDR S&P 500 ETF (SPY):  411.39

TRADE CLOSE:  CLOSE the SPY calendar for a net credit of around 8.25 to 8.35

BTC the SPY 12 May 406 put

STC the SPY 21 Jul 406 put

TRADE RE-OPEN:  OPEN the SPY calendar for a net debit of around 6.45 to 6.55

BTO the SPY 21 Jul 412 put

STO the SPY 26 May 412 put

Master Portfolio:  3 contracts