Cabot Options Institute Quant Trader – Alert (DIA)
Dow Jones ETF (DIA)
With 39 days left until expiration, we have the ability to take off our DIA bear call spread for a nice profit. Yes, we could hold on to bigger gains, but with 39 days left until our spread is due to expire, it makes sense to simply take off the trade, lock in profits, eliminate all risk and move on to our next opportunity. If you choose to hold on to the trade please be aware of the risks.
The Trade
Simultaneously:
Buy to close DIA April 21, 2023, 350 call strike
Sell to close DIA April 21, 2023, 355 call strike for a total of $0.17 (As always, the price of the spread will vary, so please adjust accordingly.)