Follow me on Twitter!

Showing posts with label SPY May 20 2022 300/386 credit put spread. Show all posts
Showing posts with label SPY May 20 2022 300/386 credit put spread. Show all posts

Saturday, June 18, 2022

Options trade : SPY bullish trade

 GET WEEKLY TRADE IDEAS!

FREE OPTIONS-TRADING LESSONS HERE



4/14/2022

sell -1 May 20, 2022 $386 put at $1.46 (prob ITM 9.27%)
buy +1 May 20, 2022 $300 put at $0.21 (prob ITM 1.22%)

  • net credit:  $1.25
  • oversold
  • 36 DTE
  • SPY =  $438 (- 5.17)


5/16/2022

buy back the entire spread for $1.20 to remove the risk

Note:
Even though there were only 4 days left until expiration, this trade had become too risky.  Thus, my goal was to get out and break even.

NET PROFIT:  $2.34