Per 100 shares of the SPY
(1) Buy to close Jan 31 $330 SPY Call & Sell to close Jan 31 $327 SPY Put
(2) Sell to open Feb 03 $326 SPY Call & Buy to open Feb 3 $323 SPY Put
Trading is risky, see below for disclaimer.
Today’s Trade Results:
- SPY traded from $327.98 to $323.96 (-4.02)
- Option Collar -$0.56 to open and +$3.09 to close (+2.53)
- Net Profit Today: -$1.49/share or -$149 per contract
In our more advanced Level 3 program where we also trade TLT, GDX and EEM ETFs we have the following open positions:
- Bearish EEM trade position started at $43.02/share traded to $42.01/share (-1.01) option collar initial credit $2.43 can be bought back for $0.91 up $0.51/share on 3800 shares for gain of +$1,938 using 10% of our total assets.
- Naked long TLT position started at $143.88/share traded up to $145.90/share for a gain of $2.02/share on 3800 shares or a profit of +$7,676 using 40% of our total assets.
- Naked long GDX position started at $29.10/share traded up to $29.23/share for a gain of $0.13/share on 3800 shares or a profit of +$494 using 10% of our total assets.
The images below show you how to close the previous trade in the top image and how to enter into the new trade alert in the bottom image.
Remember, we use 1 option contract per 100 shares of the SPY and this position is traded every Monday, Wednesday and Friday at 12PM Eastern.
This is your maximum risk vs reward in today’s trade alert: