New Trade, per 100 shares of the SPY you own
- Step 1. Sell to close Feb 26 $320 SPY Put Option
- Step 2. Buy to open March 2 $318 SPY Put Option
Notes: Expecting SPY to be bid up by futures market by the “plunge protection team” with the intent of keeping the public calm. Our Pro members are doing very well in Feb thanks to our TLT/GDX position protecting the stock position.
Today’s Trade Results:
- SPY traded from $324.35 to $317.41 (-7.15)
- Option Protection -1.24 initial debit sold for $2.81 credit (126% return!)
- Net Profit Today:-$5.58/share in past 48 hours
Here’s how the order looks like using Ameritrade’s Think or Swim iOS app
Here’s a look at the option chain of the option we sold today:
Here’s a look at the option chain of the option we bought today:
Buy & Hold Bonus Portfolio Instruction Update
If you’re following our program with buy and hold and no options trading our current allocation is 1 share of SPY (40%), 2 shares of TLT (40%), 2 shares of GDX(10%), 1 share of YANG (5%) and $44 (5%) in cash per $750 approximately in your portfolio.