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Quant Trader
Expert-Level Options for Sophisticated Traders

February 15, 2023

Cabot Options Institute Quant Trader – Alert (SPY)

S&P 500 ETF (SPY)

With 30 days left until the March 17, 2023, expiration, we have the ability to lock in well over 50% of the original premium sold just 13 days ago on our SPY bear call spread. As a result, I am going to take all risk off the table, lock in a profit and move on to the next opportunity.

The Trade


Buy to close SPY March 17, 2023, 440 call strike
Sell to close SPY March 17, 2023, 445 call strike for a total of $0.15 (As always, the price of the spread will vary slightly, so please adjust accordingly.)

As always, if you have any questions, please feel free to email me at

Andy Crowder is a professional options trader, researcher and Chief Analyst of Cabot Options Institute. Formerly with Oppenheimer & Co. in New York, Andy has leveraged his investment experience to develop his statistically based options trading strategy which applies probability theory to option valuations in order to execute risk-controlled trades. This proprietary strategy has been refined through two decades of research and real-world experience and has been featured in the Wall Street Journal, Seeking Alpha, and numerous other financial publications. Andy has helped thousands of option traders learn and implement his meticulous rules-driven options trading strategies through highly attended conferences, one-on-one coaching, webinars, and his work as a financial columnist. He currently resides in Bolton Valley, Vermont and when he’s not trading, teaching and writing about options, he enjoys spending time with his wife and two daughters, backcountry skiing, biking, running and enjoying all things outdoors.