Adjustment math question

K

KevinO

So here is what I did so far:
Bear put
Short sept 114 put @ 5.50
Long sept 115 put @ 5.94
net debit = .44/contract (5.94 - 5.50)

Here was my adjustment:
Long Jan SPY 114 & Short Sept SPY 115 = 3.99 net debit
Long was bought @ 6.36
Short was sold @ 2.81

So now what is in my portfolio is this:
Long Jan SPY 114 & Short Sept SPY 114 = 3.99 (.44 + 6.36 - 2.81)

If I wanted to adjust back to a bear put how would my math go?
Jan 114 is trading at ~8.80
Sept 115 is trading at ~5.10
Would it go something like this:
.44 + 5.10 - 8.80 = -326 ?
Would I realize any profit?
 
Quote from KevinO:

So now what is in my portfolio is this:
Long Jan SPY 114 & Short Sept SPY 114 = 3.99 (.44 + 6.36 - 2.81)

If I wanted to adjust back to a bear put how would my math go?
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Add up you debits and credits and VOILA !
 
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