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Wednesday, March 9, 2022

Option trade : Energy Sector ETF (XLE) bullish trade

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Wed. 5/26/2021

sell -1 June 18, 2021  $51 put at $1.00 (prob ITM 40%)

buy +1 June 18, 2021  $42 put at $0.10 (prob ITM 5%)

  • net credit:  $0.90 x 1 x 100 =  $90
  • XLE =  $52.17
  • margin:  $900
  • 23 DTE


Wed. 6/2/2021

buy back entire put spread for $0.20 (debit)

NET PROFIT:  $67.35 (8 days)


Reasons for closing trade:

  • overbought
  • 15 DTE
  • take profits
  • protect my capital