SPY Sell Both Call and PUT, prepare side way consolidation
Updated
How to make profit, If SPY will stay between 240 and 290,
SellToOpen Jun C280/300 market 10.26
SellToOpen Jun P248 market 8.66
Total collect about $1900.
If SPY stays between 248 and 280, I will get the max profit $1900.
If SPY goes above 300, I will lose $100.
If SPY goes below 230, I will lose money, I am willing to be assigned.
In past three weeks, I accumulated both call and put positions:
20 stock call spreads, Prepare for price going up;
12 SPY and CAT put spreads, Prepare for price going down;
Most of the trading plans had been posted in my ideas with real trading price.
Even though, they are all low cost, if SPY will stay in side way consolidation, I will lose some timing value every day.
This trade is used to cover most of my expenses in all existing positions.
SellToOpen Jun C280/300 market 10.26
SellToOpen Jun P248 market 8.66
Total collect about $1900.
If SPY stays between 248 and 280, I will get the max profit $1900.
If SPY goes above 300, I will lose $100.
If SPY goes below 230, I will lose money, I am willing to be assigned.
In past three weeks, I accumulated both call and put positions:
20 stock call spreads, Prepare for price going up;
12 SPY and CAT put spreads, Prepare for price going down;
Most of the trading plans had been posted in my ideas with real trading price.
Even though, they are all low cost, if SPY will stay in side way consolidation, I will lose some timing value every day.
This trade is used to cover most of my expenses in all existing positions.
Trade active
SellToOpen Jun C280/300 market 10.26SellToOpen Jun P248 market 8.66
Total collect about $1900.
Trade active
BuyToClose Jun P248 (3.1), and SellToOpen July P260 (6.83), get 3.73 credit. Till now, total got credit 22.65 per SHARE,
even If SPY goes above 300, I will still win 2.65.
If SPY will be under 240 in July,
#1 willing to be assigned.
#2 There will be lot stocks showing double bottom in weekly chart. That will be next long term opportunity to accumulate long positions.
Trade closed manually
Close Jun C280/300 market 9.52. Win 0.74;Bother sold Call and sold put win.
Trade closed: target reached
ButToOpen July P260 (6.83), market 2.73, Win 4.1If I didn't take any action in middle, today it should be just make even.
Overall, this is a best trading plan and followup correctly:
Total win 3.73 + 0.74 + 4.1 = 8.57
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