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Quant Trader
Expert-Level Options for Sophisticated Traders

October 25, 2022

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.

Andy Crowder is a professional options trader, researcher and Chief Analyst of Cabot Options Institute. 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.