If you believe the SP500 market will trade lower, but still have bought the market. The SPDN gives a trader a way to limit their loss in case of failure.
A stop loss below 14.60 and a profit limit order above 15.62 means you could limit your loss if the SP500 trades lower below 4000.
A stop loss below 14.60 and a profit limit order above 15.62 means you could limit your loss if the SP500 trades lower below 4000.