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Quant Trader
Expert-Level Options for Sophisticated Traders

September 15, 2022

We placed our SPY trade on September 9th for $0.75, now it stands at $0.25 with 36 days left until expiration.

Cabot Options Institute Quant Trader – Alert (SPY close)

SPDR S&P 500 (SPY)

We placed our SPY trade on September 9th for $0.75, now it stands at $0.25 with 36 days left until expiration. It doesn’t make sense to hold on to the trade with 36 days left (and the associated risk) when we can buy back the spread, lock in a nice 11.1% return in six days and move on to the next opportunity.

The Trade

Simultaneously:
Buy to close SPY October 21, 2022, 430 call strike

Sell to close SPY October 21, 2022, 435 call strike for a total of $0.25 (As always, the price of spread will vary, so please adjust accordingly.)