Cabot Options Institute Quant Trader – Alert (SPY)
We’ve had lots of good fortune over the past six months in the Quant Trader service. Our quant-based approach where probabilities lead the way has led to 18 out 19 winning trades since starting the service back in early June.
Today I want to lock in another winning trade by taking off our most recent trade in SPY. Two days ago we sold the SPY 430/435 bear call spread for $0.54. Now the spread is trading for far less, around $0.17. With 36 days left until expiration it doesn’t make sense to hold on to the trade given the associated risk. As a result, I’m taking off the trade and will immediately begin the search for another good candidate for a trade. If you choose to hold on to the trade for greater profits, please be aware of the risks.
Buy to Close SPY January 20, 2023, 430 call strike
Sell to Close SPY January 20, 2023, 435 call strike for a total of $0.17 (As always, the price of the spread will vary, so please adjust accordingly.)