Here is an update on closure of my credit spread for PCP which I mentioned here. I opened that trade for a credit $1.25 and with Margin $3.75. The logic for the trade was, directional as it was breaking out of the resistance zone. I bought back the spread for $0.40 (rationale was that risk/reward was not good now, I wanted to release margin so I can use somewhere else). This credit spread resulted in 22.67% profit for holding period of 1 week.
Here is the closure of transaction.
Cheers and profitable trading,