Today's session started off with little gusto and it appeared that it was going to top out near the 5600 level. We opened a bear call spread and the position looked great for a while. Unfortunately for us, the markets pushed beyond the 5600 level for the first time and forced us to exit our position. The S&P500 index settled today at 5633.91, a new record high. Our loss was 17.5% today but we can make that up over time. We will see how things develop for our next trade. Enjoy the rest of the week!