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Mark, Thanks for your help. In regard to the maximum loss to take, I feel I trade best when I have rules set up when I enter the trade. I am looking for a rule that will maximize a positive expectancy. Two that I thought about were to close the spread if the Spy's ever reach 86. Another would...

I am looking for suggestions on how to manage risk with a proper exit strategy on out of the money credit spreads. 2 weeks ago I sold the SPY APR 86 calls and bought the APR 88 calls for a credit of $.60. under what conditions would you recommend exiting this trade prior to expiration.