Last week's trade will give me a gain of $295 on a $20K account when it expires at the end of the day today. If I had been invested in a NASDAQ ETF, I would have had a gain of about 2.5% at 11AM on Friday. We'll see what happens in the market today, but I'm happy with my 1.4% weekly gain either way.
This week's trade of the week is a Put Credit Spread again. I'll sell a PUT option on NDX with a strike price of $14,950 and an expiration of 5 Nov. At the same time, I'll buy a PUT option on NDX with a strike price of $14,850 and an expiration date of 5 Nov. This trade has a maximum gain of about $230 as long as NDX closes above $14,950 on Friday, 5 Nov 2021. I made this trade in my account that has a cash balance of $20,000. I am only using half of my available cash so that I can fix the trade in the unlikely event that NDX happens to fall by 5% this week.
The trade discussed above is not a recommendation but is merely an account of what I may have executed in the past.
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