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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

Simultaneously:

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@cabotwealth.com.