Per 100 shares of the SPY
(1) Buy to close Jan 29 $319 SPY Call & Sell to close Jan 29 $324 SPY Put
(2) Sell to open Jan 31 $330 SPY Call & Buy to open Jan 31 $327 SPY Put
Trading is risky, see below for disclaimer.
Today’s Trade Results:
- SPY traded from $323.80 to $327.98 (+4.18)
- Option Collar +$3.45 to open and -$8.92 to close (-5.47)
- Net Profit Today: -$1.29/share or -$129 per contract
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: