I've been looking at one week to expiration credit spreads on high priced stocks and indexes. GOOG has some good 5-7% deep OTM spreads and even 8-10% OTM condors. CME has a lot of cushion to it as well. SPX index doesnt seem as great for such a short spread. Anyone do short term credit spreads and/or condors? Any other suggestions as to the equity or index to use? Also, what's the best stop to put in place, in case a heck breaks lose and the pps drops 30 points in a week? I've looked at a contigent order to close out the short side when the pps hits the short strike. Any better ideas? Thanks. PS, I'm new at this so any help would be much appreciated.