SPDR S&P 500 ETF TRUSTUpdated SPY Sell Both Call and PUT, prepare side way consolidation
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.