NEW TRADE: SPX Bear Call Spread

Yesterday the SPX broke an important support level at around 800. At this point I am concerned that we might see a sustained decline, with 800 now acting as resistance. You can see on this daily chart where I think the support was. A look at the 15 minute chart underscores this point even more. After yesterday's opening slide, the price retraced to near 800 many times, but never really poked through or threatened it much.

At the same time, several of my bearish positions have hit profit targets and been taken off, so Deltas were getting a little long. All of this, plus my unquenchable thirst for more Theta led me to a fairly aggressive position in an SPX Bear Call spread: SOLD SPX MAR 890/900 CALL @1.20 CBOE. As I said, this was a pretty aggressive position (i.e. LARGE), but it was just right for balancing my Deltas while adding a large chunk of Theta. My plan is to leave this on to profit from any downside move, but I will remove it if we get to 810. That would be a significant penetration of the resistance line.