Trade of the Week (28 April 2023)

Last week, I made a trade for a $110(0.51%) gain 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 weekly gain of about 1.8% at the market close on Friday.

This week's trade of the week is a Put Credit Spread again. I'll sell 2 PUT options on NQX with a strike price of $2,440 and an expiration of 5 May 2023. At the same time, I'll buy 2 PUT options on NQX with a strike price of $2,390 and an expiration date of 5 May. This trade has a maximum gain of about $86 as long as NQX closes above $2,250 on Friday, 5 May, 2023.

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 NQX happens to fall by 10% this week.

Note: This trade is not a recommendation but is merely an account of what I may have executed in the past.