Friday 12/21/2018 (Expiration Friday)
Trade 1A (9:42:23 am, PT)
sell (to open) -2 Dec 21, 2018 2490 call options at $2.35 (14 delta)
Trade 1B (10:53:08 am, PT)
buy (to close) both of the 2490 call options at $0.90
PROFIT: $290
Trade 2A (11:40:11 am, PT)
sell (to open) -2 Dec 21, 2018 2460 call options at $1.85 (17 delta)
(notice that the strike price is 30 points lower than in Trade 1)
Trade 2B (12:12:22 pm, PT)
buy (to close) both of the 2460 call options at $0.65
PROFIT: $240
Trade 3 (12:34:12, pm, PT)
sell (to open) -2 Dec 21, 2018 2435 call options at $2.60 (22 delta)
(notice that the strike price is 25 points lower than in Trade 2)
Note:
I had submitted a limit order to buy back both of the 2435 calls at $0.05, but my order never filled even though my short calls were out-of-the money by $18. I had never experienced such a thing before. The "ask" remained at $0.55 all the way until the Closing Bell. Those market makers missed out on taking my $10 because they got greedy!!
SPX closed at 2416.62 (down 50.80).
TOTAL PROFIT (3 separate trades): $1050 (in 4 hours)
LEARN TO SELL CALL OPTIONS HERE!
