Last week's trade can still give me a gain of $275 (1.3%) on a $20K account when it expires at the end of the day today. Right now, I can't close the trade for a profit, so I'll have to keep it open until a little later in the day. If I had been invested in a NASDAQ ETF, I would have had a loss of about 4.7% at 11AM on Friday.
Right now, I can make a few trading plans, but I don't actually want to enter a trade until I can close last week's trade or until NDX moves higher. The plans that I'm looking at are either selling a Put Credit Spread where I sell 1 NDX Put at 15,000 and buy 1 NDX Put at 14,900; or a Put Credit Spread where I sell 2 NDX Puts at 15,000 and buy 2 NDX Puts at 14,925. I would make 1 of these trades for a profit before the end of the day. Depending on how close the market is to the price of the sold Put last week, I may close out last weeks trade at the same time or just plan to let it expire worthless.
UPDATE 1 (1:38PM):
I'm looking to close last week's trade while opening this week's trade of buying 1 NDX Put at 15,000 and buying 1 NDX Put at 14,900. This trade combination should bring in about $525 this week. Closing last week's trade will cost about $400, and opening this new trade will give me a credit of about $925; this combination comes out to a net gain of $525.
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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