I am selling half of both the TNA ETF and SPY April 116 calls I bought yesterday morning as the S&P reaches my target of 1170. (just below)
I was hoping to catch a 16 point move on the downside this 4 week period if S&P 1140 was broken Monday. Instead I caught a 16 point move to the upside as we entered over 1154 and now we have 1170.
The 2nd half of both positions will be sold on a break below 1165 so I can preserve profits. If 1170 is broken to the upside I'll let the other half run.