Last week's trade will give me a gain of $230 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 3.7% at 11AM on Friday. We'll see what happens in the market today, but I'm happy with my 1.1% weekly gain.
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 $15,600 and an expiration of 12 Nov. At the same time, I'll buy a PUT option on NDX with a strike price of $15,500 and an expiration date of 12 Nov. This trade has a maximum gain of about $235 as long as NDX closes above $15,600 on Friday, 12 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. This week's trade actually has a better chance of falling by 5% than prior trades because the market has moved up so far and so quickly over the past month, but this is a risk that I'm willing to accept.
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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