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.