$SPY Put Spread
Buy: 11/08 297p for 4.56
Sell: 11/08 292p for 3.11
Net Debit: $1.45
Max Profit: $3.55
45% POP
Do not like debit spreads in general but taking my chances on a dip below $295.55 (break even at expiration) at some point in the next 28 days. SPY has seen a massive run in the last two days and we know how Trump tweets and China trade deal cycle work out by now. I prefer neutral strats but taking a bearish position here.
Buy: 11/08 297p for 4.56
Sell: 11/08 292p for 3.11
Net Debit: $1.45
Max Profit: $3.55
45% POP
Do not like debit spreads in general but taking my chances on a dip below $295.55 (break even at expiration) at some point in the next 28 days. SPY has seen a massive run in the last two days and we know how Trump tweets and China trade deal cycle work out by now. I prefer neutral strats but taking a bearish position here.