Trade Ideas : SPY Put Spread

Please be advised that this is not meant to be financial advice or meant to encourage anyone to take any of these trades. If anything I post peaks your interest, then you can always go and do your own research using technical and fundamental analysis.

I will buy a $235/230 June17 put spread on a retest of the $239 level. I anticipate some downside in the next couple of weeks, with the market testing at least 2300 on the SPX. I will close out the put spread by then. I like the risk to reward ratio on this trade, and the put spread keeps my downside minimized to the premium paid.