January 10, 2024

With just over one week left until expiration, and some potential short-term market-moving info ahead of us (CPI, earnings) I’m going to go ahead and do the prudent thing by taking our SPY bear call spread off the table.

S&P 500 ETF (SPY)

I will be adding several additional trades prior to week’s end, including an iron condor. Stay tuned!

The Trade

Simultaneously:

Buy to Close SPY January 19, 2024, 475 call strike
Sell to Close SPY January 19, 2024, 480 call strike for a total of $2.75. (As always, the price of the spread will vary, so please adjust accordingly.)

As always, if you have any questions, please feel free to email me at andy@cabotwealth.com.

Andy Crowder

Andy Crowder is a professional options trader, researcher and Senior Analyst at Cabot. 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.