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SPY hedge update

I found an alteration to the trade that I'm happy with. The first picture below is my original position, the second is after I put on a 109/110 back ratio. This trade was a small debit and decreases my losses from 108.50 - 110.00, at 110.00 they are about the same, but at 111.00 or higher the losses get even greater. I had to use some additional buying power to put this on but not much. If SPY should rally strong next week and break the resistance line I would have to admit defeat and take my losses and get out. I'm not comfortable holding this position in to expiration. I didn't like the ES hedge risk/reward ideas I was coming up with.









































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