Credit Spreads

I'm dabbling with credit spreads now.

First there's a bull put spread for UNG, Jan $15/17. I feel pretty good about this one.

Then there's a bear call spread for EEM, Jan $46/45. I feel like I'm going against the current here, and there is probably a fair amount of fiscal cliff resolution risk (FCRR), but still a 0.22 delta with a good return on risked moolah ... and I did take a smaller position.

Let's see what happens ...