Cabot Options Institute Quant Trader – Alert (SPY)
SPY has moved significantly higher over the past few weeks. As a result, I’ve decided to take my SPY November 18, 2022 325/320 bear call spread off the table for a profit. Some may choose to hold on to the trade, just remember, we still have 24 days left until expiration and lots can happen over that timeframe.
The Trade
Here is the trade:
Simultaneously:
Buy to close SPY November 18, 2022, 325 put strike
Sell to close SPY November 18, 2022, 320 put strike for a total of $0.09 (As always, the price of spread will vary, so please adjust accordingly.)
If you have any questions, please do not hesitate to email me at andy@cabotwealth.com.