New Trade Alert Below Profit Summary and Track Record
SPY went from $298.73 to $298.77 for +$0.04
Collar went from -$0.12 to +$0.02 for -$0.10
Net Profit = -$0.06/Share
Today’s new trade alert can make $1.48/share x 3700 shares or $4,255 this weekend if the SPY trades at or above $300.50 come Monday.
Key News: More rumors spreading that Chinese will demand all tariffs dropped, release of Huawei daughter held in Canada and a veto on the Hong Kong bill. All this as their GDP drops to a 30-year low of 6% which is still potentially 4x the growth we’ve seen in the USA over Q3 at 1.5%.
US trade advisors continue to report a rosy outlook to a trade deal so we remain long the SPY with a tight option collar to provide ample downside protection on top of our TLT/GDX positions.
New Trade Instructions
New Trade: Per 100 shares of SPY
(1) Buy to close Oct 18, 2019 $301 SPY Call, sell to close Oct 18, 2019 $296 SPY Put to expire worthless
(2) Sell to open Oct 21, 2019 $300.50 SPY Call, Buy to open Oct 21, 2019 $297.50 SPY Put.
Step 1. Close our previous trade if you took it otherwise skip to step 2.
Step 2. For every 100 shares of the SPY you own enter one of the following option contracts.
This is the maximum P/L we can achieve.