Long 1 expiring SPY SPY (Aug. 7) $757 call and short 1 SPY (Aug. 7) $777 call: The position will be held until new lows outnumber new highs on the NYSE for two consecutive days. Sell this spread and roll to the following: buy 1 SPY (Aug. 28) $772 call and sell 1 SPY (Aug. 28) $797 call.