MNX directional option play

Some time around mid july, I had an idea that the market was about to make a correction. So I looked around for a position to take advantage of this view. I decided to pull up the $MNX index that tracked the Nasdaq market. So I decided to do a time put spread. Buy the Oct 160 put and sell equivalent August 160 puts. Hardly anyone traded the Oct contract, but using IB (Interactivebrokers) TWS, I pulled up the spread combination and got the spread quoted at 1.60/2.00. So it was easy to execute this illiquid spread if you were willing to pay 1.95 or 2.00 for the spread. Note the $MNX chart above shows how the market did break down, as expected.

NQ daily chart